Mobile Payment is the Favorite Means of 55% of Europeans, According to Payments Observatory

Audy Castañeda
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<strong>Mobile Payment is the Favorite Means of 55% of Europeans, According to Payments Observatory </strong>

Despite the fact that it continues to be the most used payment method for transactions in Europe, cash payments have fallen from 72% in 2019 to 59% in 2022. Around 72% of the world population has access to immediate payments. The global BNPL market size is estimated to reach 39 billion.

Payments Observatory, an initiative of ditrendia, the digital strategy consultancy, and Pecunpay, the electronic money and payment solutions entity, under the umbrella of the Marketing Committee for Financial Institutions and Insurance Companies-MKTefa of the Marketing Association of Spain-AMKT, has presented today its second report entitled “Immediate payments as a competitive advantage”.

The 2023 report of the observatory can be consulted online on the ditrendia page. Or, the broadcast of the event can be checked on YouTube, where the main points are provided.

Close to a Cashless World?

The main conclusion of the report is that cash is still necessary, although its importance is declining over time. Just to illustrate, mobile payments have come to be preferred by 55% of Europeans. Another aspect that must be highlighted is 2020, the year of the pandemic, was crucial for the growth of digital payments.

In the observatory sessions, experts have participated in professional interviews with national and international entities. Among the opinions of the experts, the upward trend of open banking stands out, as an upward trend that is about to reach 25 million users just at the beginning of this year.

Observatory Conclusions

Among many other conclusions are the following:

Cash continues to decline: Although it remains the most widely used payment method for transactions in Europe, payment in cash has fallen from 72% in 2019 to 59% in 2022.

Digital or mobile payment is the preferred means of payment for 55% of Europeans

Contactless payment is consolidated: Mobile and digital wallets are the main means of payment worldwide, both at the traditional point of sale and through electronic commerce.

Around 72% of the world’s population has access to immediate payments and it is predicted that 427 billion transactions will be reached through immediate, instant or real-time payments in 2026.

Users demand multiple payment solutions in their shopping experience that are easy, simple, fast and without friction: the ideal situation is invisible payment, without the need to enter bank or card details.

The global BNPL market size is estimated to reach US$39 billion by 2030, growing at an annual rate of 26% from 2022 to 2030.

Despite the crisis of confidence that occurred in 2022, the crypto world is expected to grow in the coming years: it is estimated that there are more than 400 million users around the world who have some kind of cryptocurrency.

86% of central banks are actively investigating CBDC as a means of payment.

By Audy Castaneda

XRP to Target $0.40 in SEC Hinman Speech Papers versus Ripple Case

Audy Castañeda
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<strong>XRP to Target $0.40 in SEC Hinman Speech Papers versus Ripple Case</strong>

On Wednesday, XRP bucked the broader trend of the crypto market, rising 0.94% to end the day at $0.39509. The SEC vs. Ripple optimism continued to provide support for the XRP price, while the positive reaction to the FOMC meeting minutes delivered a gain of 0.94%. Technical indicators turned bullish, signaling a return to below $0.40.

On Wednesday, XRP rose 0.94%. Partially reversing a 1.73% loss on Tuesday, XRP ended the day at $0.39749. Despite the bullish session, XRP failed to reach the $0.40 level for the first time in three sessions.

A mixed start to the day saw XRP fall to an early morning low of $0.38350 before making a move. Finding support at the first major support level (S1) at $0.3853, XRP rallied to an early afternoon high of $0.39749. However, failing to reach the first major resistance level (R1) at $0.3999, XRP fell back to below $0.39 before closing the day at $0.39509.

SEC v Ripple News Offers XRP Price Support

It was a busy mid-week session, with the SEC vs. Ripple news drawing a lot of investor interest. Dr. Roslyn Layton was back in the news by filing an amended Motion to Intervene request for access to documents related to Hinman’s speech.

The contentious issue with the speech relates to Hinman’s connection to Simpson Thacher. Simpson Thacher is part of a group promoting Enterprise Ethereum. After leaving the SEC, Hinman returned to Simpson Thacher.

The SEC was unable to prevent the documents from reaching the defendants’ hands. However, the SEC filed a motion to redact the content of the speech. The consensus is that the SEC may prefer to settle the case against Ripple rather than allow the documents to enter the public arena.

XRP Price Action – Technical Indicators

A mixed start to the day saw XRP rally to an early high of $0.39314 before falling to a low of $0.39129.

XRP needs to avoid the $0.3920 pivot to target the first major resistance level (R1) at $0.4006. A return to $0.40 would signal a bullish session. However, the broader crypto market and SEC v Ripple talk would need to support a breakout.

In the event of another prolonged rally, XRP would likely test the second major resistance level (R2) at $0.4060 and resistance at $0.41. The third main resistance level (R3) sits at $0.4200.

The EMAs and the 4-hour candlestick sent a bearish signal. XRP was sitting above the 100-day EMA, currently at $0.39194. The 50-day EMA has converged to the 100-day EMA, and the 100-day EMA has broken out from the 200-day EMA. The signals were bullish.

A bullish cross of the 50-day EMA through the 100 day EMA would support a break of R1 ($0.4006) to target R2 ($0.4060) and $0.41. However, a drop through the EMAs would give the bears a run to $0.3866 and lower support levels at $0.38. A drop through the 50-day EMA would send a bearish signal.

By Audy Castaneda

ETH Bulls to Redirect $1,750 at Fed and Shanghai Hard Fork News

Audy Castañeda
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<strong>ETH Bulls to Redirect $1,750 at Fed and Shanghai Hard Fork News</strong>

Wednesday was a bearish session for Ethereum (ETH). Fed fears and regulatory risk jitters weighed heavily, while FOMC meeting minutes limited the downside. However, ETH was in positive territory this morning.

Ethereum (ETH) fell 1.02% on Wednesday. Following a 2.58% drop on Tuesday, ETH ended the day at $1,643. The bearish session left ETH below the $1,700 level for the first time in seven sessions.

A mixed start to the day saw ETH rally to an early high of $1,667 before pulling back. Missing the first major resistance level (R1) at $1,706, ETH slid through the first major support level (S1) at $1,625 to a late-afternoon low of $1,595. However, finding support at the second major support level (S2) at $1,590, ETH rallied to end the day at $1,643.

FOMC Meeting Minutes Ease Fed Fears of Providing Price Support

On Wednesday, fear of the Fed eased as investors responded to the latest FOMC meeting minutes. The minutes were less aggressive than expected, supporting the NASDAQ Composite Index and a bullish finish for the broader crypto market.

However, the minutes are dated. Since the FOMC meeting, US Employment Report, CPI Report, ISM Non-Manufacturing PMI Survey and Retail Sales figures support a more hawkish Fed policy outlook.

More upbeat US statistics and dovish inflation numbers would likely drive policy outlook bets higher for longer. However, easing fears of a US economic downturn have limited the Fed’s impact on ETH and BTC in the short term.

Ethereum (ETH) Price Action – Technical Indicators

A bullish start to the day saw ETH rise from an initial low of $1,637 to a high of $1,674. The first major resistance level (R1) at $1,675 culminated higher.

ETH needs to avoid a drop through the $1,635 pivot to re-target the first major resistance level (R1) at $1,675 and $1,700. A move through R1 would signal a breakout session. However, updates from the Shanghai hard fork and crypto news leads should support ETH to support a breakout.

In the event of a prolonged rally, the bulls would likely test the second major resistance level (R2) at $1,707 and resistance at $1,750. The third major resistance level (R3) sits at $1,779.

Looking at the EMAs and the 4-hour candlestick chart (below), it was a bullish sign. Ethereum has broken above the 50-day EMA, currently at $1655. The 50-day EMA has turned away from the 100-day EMA, and the 100 day EMA has broken out from the 200-day EMA, providing bullish signals.

A hold above the 50-day EMA ($1655) would support a break of R1 ($1675) to target R2 ($1707) and $1750. However, a drop through the 50-day EMA ($1,655) would give the bears a run on the 100-day ($1,634) and S1 ($1,603). A drop through the 50-day EMA would send a bearish signal.

By Audy Castaneda

Will Ripple Be Victorious over the SEC? This Is What Statistics Say

Audy Castañeda
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<strong>Will Ripple Be Victorious over the SEC? This Is What Statistics Say</strong>

According to a statistic shared by a Ripple lawyer, the cryptocurrency company is one step away from winning its lawsuit against the SEC. Actually, things are much more complicated than that.

Are we finally seeing Ripple’s victory over the SEC? If it is the public who will have to decide, the lawyers of the crypto company already rejoice in the inevitable. How can they be so sure? Just for statistics.

According to a tweet posted two days ago by Stuart Alderoty, an attorney who is member of Ripple’s legal team, “the SEC has lost 4 of its last 5 cases in the Supreme Court, thanks to the few that had the courage and resources to fight back against the SEC’s bullying and clinging to stretch legal positions that were not faithful to the law.”

In fact, Alderoty claims that the lost cases would be explained by the numerous arguments against Ripple, found by the industry, and that the financial authority would not have been able to counter.

For Ripple’s other lawyer, John E Deaton, there is no chance that the cryptocurrency company will lose its lawsuit. In fact, the latter has created a specific file that brings together many old SEC testimony and statements. Deaton’s tweet explains it further:

“I have no doubt Ripple will win and the current Supreme Court will shut down the @SECGov’s gross overreach. The West Virginia vs. EPA case is all you need to read to agree with me. @Ripple’s summary judgment brief is already an extremely well written appellate brief.”

If the statistics cited by Stuart Alderoty are to be believed, the SEC’s chances of victory would therefore be very slim. Ripple’s management team is also certain that Judge Analisa Torres, who is presiding over the trial, will reject the financial authority’s arguments for lack of depth.

Deaton tweeted that “we are lucky we got Judge Netburn and Judge Torres and if Judge Torres denies the SEC’s motion like I expect her to and says it goes to a jury, that’s a win. You confuse my motion with Ripple’s. I filed in opposition of the SEC not in support of Ripple.”

An Error in Judgment in Defending Cryptocurrencies?

Despite the defense enthusiasm, it is necessary to remain on guard: statistics do not guarantee victory. Nothing is won yet. The SEC may yet make new arguments, especially as it joins the crackdown on cryptocurrencies. The financial authority also won its case against LBRY, and it could use this event against Ripple.

On a more positive note, one can imagine that justice will not win the SEC’s case as its actions are denounced by the US Senate, as well as other judges involved in the case.

The moral of the story: numbers are not a guarantee of Ripple’s victory, only time will tell the truth.

By Audy Castaneda

XRP Bears Eye Sub-$0.38 on Fed Minutes and SEC vs. Ripple Silence

Audy Castañeda
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<strong>XRP Bears Eye Sub-$0.38 on Fed Minutes and SEC vs. Ripple Silence</strong>

On Tuesday, XRP joined the broader crypto market in the red, falling 1.73% to end the session at $0.39142. Fed Fear weighed on riskier assets and dwarfed SEC v Ripple optimism. Technical indicators turned bearish, signaling a return to below $0.38.

On Tuesday, XRP fell 1.73%. Partially reversing a 3.17% rally on Monday, XRP ended the day at $0.39142. Despite the bearish session, XRP revisited the $0.40 level for the second time in five sessions.

A bullish start to the day saw XRP rally to a mid-morning high of $0.40222. Missing the first major resistance level (R1) at $0.4121, XRP slid to a late afternoon low of $0.38761. Moving away from the first major support level (S1) at $0.3810; however, XRP briefly revisited $0.3949 before pulling back.

Ripple Updates and SEC vs. Ripple Chatter Take a Back Seat to Fed Fear

It was a busy Tuesday session. After the US holidays, the US Private Sector PMI numbers for February generated interest in the afternoon session. A better-than-expected services PMI boosted bets on a more hawkish Fed rate path to bring inflation to target.

The NASDAQ Composite Index responded to the more hawkish outlook from the Fed, falling 2.50%.

Ripple news updates and SEC vs. Ripple chatter took a backseat, despite continued optimism towards the outcome of the SEC vs. Ripple case.

However, there were no SEC v Ripple case updates to sway buyer appetite.

XRP Price Action – Technical Indicators

XRP needs to move through the $0.3938 pivot to target the first major resistance level (R1) at $0.3999 and Tuesday’s high of $0.40222. A return to $0.40 would signal a bullish session. However, the broader crypto market and SEC v Ripple talk would need to support a breakout.

In the event of another prolonged rally, XRP would likely test the second major resistance level (R2) at $0.4084 and resistance at $0.41. The third main resistance level (R3) sits at $0.4230.

Failure to move through the pivot would leave the first major support level (S1) at $0.3853 up for grabs. However, barring an extended cryptocurrency sell-off, XRP should avoid going below $0.3750. The second major support level (S2) at $0.3791 should cap the downside. The third major support level (S3) sits at $0.3645.

The EMAs and the 4-hour candlestick sent a bearish signal. XRP was trading below the 200-day EMA, currently at $0.39119. The 50 day EMA has converged to the 200-day EMA, and the 100-day EMA has turned down to the 200-day EMA. The signals were bearish.

A bearish cross of the 50-day EMA through the 200-day would support a fall through S1 ($0.3853) to give the bears a run to support levels below $0.38. However, an XRP move through the EMAs would bring R1 ($0.3999) and the Tuesday high of $0.40222 into play. A move through the 50-day EMA would send a bullish signal.

By Audy Castaneda

Bears to Target under $0.380 in Fed Minutes

Audy Castañeda
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<strong>Bears to Target under $0.380 in Fed Minutes</strong>

ADA joined the broader crypto market in the red on Tuesday, falling 2.72% to end the session at $0.393. Input Output HK (IOHK) updates faded to the background, with US economic indicators and Fed Fear sending riskier assets into negative territory. Technical indicators turned bearish, putting less than $0.380 into play.

ADA fell 2.72% on Tuesday. Reversing a 1.00% gain on Monday, ADA ended the day at $0.393. The bearish session left ADA below $0.400 for the first time in five sessions.

A bullish start to the day saw ADA rise to a mid-morning high of $0.407, before pulling back. Breaking below the first main resistance level (R1) at $0.413, ADA fell to a late low of $0.386. The reversal sent ADA briefly falling through the first major support level (S1) at $0.393, before ending the session at $0.393.

IOHK Silence Leaves Fed Fear to Mute Network Sentiment

It was a busy Tuesday for global financial markets. After the US holidays, US private sector PMIs generated interest. Better-than-expected services sector PMI numbers fueled fears for the Fed. Following the impressive ISM Non-Manufacturing PMI numbers, the Markit survey-based PMI showed a return to growth.

Recent economic indicators have fueled bets on a more aggressive Fed rate path to bring inflation to target. Services PMI supported the more aggressive outlook, with markets betting higher for longer.

The NASDAQ Composite Index fell 2.50%, with the Dow and S&P 500 down 2.06% and 2.005, respectively.

There were no Input Output HK (IOHK) network updates to distract investors, leaving ADA in the hands of the broader crypto market.

ADA saw red despite improving sentiment towards the Cardano network, the upward trend in network projects, and ongoing updates to the network to improve developer experiences. Increased US regulatory scrutiny has contributed to bearish sentiment and a return of ADA to below $0.400.

ADA Action Price – Technical Indicators

This morning, ADA was down 2.54% at $0.383. A bearish start to the day saw ADA slide from an opening price of $0.393 to a low of $0.381. ADA fell through the first major support level (S1) at $0.384.

ADA has to move through S1 and the $0.395 pivot to target the first major resistance level (R1) at $0.405 and Tuesday’s high of $0.407. A return to $0.400 would support a bullish session. However, updates to the Cardano network and the broader crypto market should provide support.

In the event of a breakout, ADA would likely test the second major resistance level (R2) at $0.416 and resistance at $0.420. The third main resistance level (R3) sits at $0.437.

If it doesn’t move through S1 and pivot ($0.395), the second major support level (S2) would leave $0.374 up for grabs. However, barring a broad-based crypto sell-off, ADA should avoid below $0.370 and the third major support level (S3) at $0.353.

Today, the EMAs and the 4-hour candlestick sent bearish signals. ADA broke above the 200-day EMA, currently at $0.377. The 50-day EMA closed above the 100-day EMA, with the 100-day EMA lowering back to the 200-day EMA, providing bearish signals.

A move through the 100-day ($0.390) and 50-day EMAs ($0.395) would support a breakout from R1 ($0.405) to target R2 ($0.416) and $0.420. However, a drop through the 200-day EMA ($0.377) would bring S2 ($0.0.374) into view. A move through the 50-day EMA would send a bullish signal.

By Audy Castaneda

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