If the Price of XRP Remains above USD 0.66, It May Rise to USD 1 in Late 2022

Alexander Salazar
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If the Price of XRP Remains above USD 0.66, It May Rise to USD 1 in Late 2022

The recent candlesticks might indicate the early stage of a strong bullish run, as the value of XRP has risen by over 60%. However, it might experience a pullback lower to USD 0.34 if it does not follow the expected pattern.

Over the last few days, the price of XRP has gained significant value, thus recovering its bullish trend. The Blockchain Association recently filed an amicus curiae brief to support the Howey interpretation in the SEC vs. Ripple case.

Crypto Proponents Support Ripple as It Moves Closer to Victory

Ripple receives support from the crypto community as it approaches victory over the SEC in the lawsuit. In addition, the Blockchain Association, a leading cryptocurrency firm, filed an amicus curiae brief against the American regulatory agency in court.

The Blockchain Association stated that securities laws do not contemplate how an asset issued as a security can exist without an investment contract. They said it was a crucial consideration when applying the Howey test to digital assets.

In December 2020, the US Securities and Exchange Commission filed a lawsuit against Ripple for distributing XRP, its native token, as an unregistered security. Since then, the case has seen various documents and motions, and now it favors the American company.

The Price of XRP May Rise Considerably

The latest earning reports from Ripple indicate that the company holds less than 50% of the XRP supply. Brad Garlinghouse, its CEO, said this percentage is still a huge milestone.

The candlesticks on the price chart of XRP might indicate the early stage of a strong bullish run. Over the last month, the value of the cryptocurrency has risen by over 60%, encouraging its community and investors.

XRP is trading at around USD 0.47 and has accumulated a 0.97% gain over the last 24 hours. While its market capitalization is above USD 1.44 billion, its market capitalization is about USD 23.16 billion, according to CoinGecko.

However, the bullish trend forms a countertrend pattern on the price chart where a bearish trend is about to occur. If the price exceeds the immediate resistance level at USD 0.55, it might reach the upper bound of the Bollinger band at USD 0.67.

If XRP remains above USD 0.66, the upward trend may continue to USD 1. If the RSI (14) indicator continues to trade above 50, the price might test bullish territory over the coming weeks.

However, there may be a bearish trend if XRP does not follow the expected pattern. XRP might experience a pullback to USD 0.34, representing a 30% selloff of the current price of XRP. The lower bound of the Bollinger band is USD 0.42, below which the value may drop sharply to around USD 0.3.

Investors should research XRP or any other cryptocurrency before buying it to know their all-time high, behavior, and possible future price. It is only a matter of time before seeing where the market will take the value of the native token of Ripple.

By Alexander Salazar

Cryptocurrency Analysts Review Toon Finance

Audy Castañeda
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Cryptocurrency Analysts Review Toon Finance

Toon Finance has the potential to ignore Binance and Solana, two of the top leaders in the cryptocurrency industry.

Toon Finance is the new DEX currency that everyone is talking about. Toon Finance is a decentralized cryptocurrency that went on sale in early October and has been the trend of the month so far. It is building one of the most innovative exchange platforms known on the Ethereum network.

Toon Finance consists of 1 billion tokens in total, with 50% sold for pre-sale and the other 50% kept for decentralized exchanges. The hot meme coin has already raised over $3 million, and they are targeting $20 million.

The coin will easily accomplish its goal, according to crypto experts from around the planet, who have written about their research on the project.

Benefits of Investing in an ICO like Toon Finance

ICOs (Initial Coin Offerings) are a new way of raising money for startups that have embraced Blockchain technology. In an ICO, a startup creates a new digital token and sells it to investors in exchange for cryptocurrencies, usually Ethereum or Bitcoin.

ICOs have become a popular way to raise funds for Blockchain-based projects, as they provide startups with a way to bypass the traditional venture capital route.

Listed below are some benefits of investing in an ICO.

Potentially high returns – Although there is no guarantee that a particular ICO will be successful, the rewards can be great if you pick a winner. Obviously, it is important to only invest what you can afford to lose.

Access to Early Stage Projects – This provides the opportunity to enter the ground floor and potentially earn higher rewards along the way if the project is successful. However, it also means that there is a higher degree of risk, as these designs are yet to be tested.

Diversification – Investing in an ICO can protect you from losses in other parts of your portfolio during market downturns. However, cryptocurrency prices can be very volatile.

Support innovation – by investing in an ICO, you can play a role in creating new and innovative technologies and applications.

ICOs: Beware of Risks

ICOs are not without risk. Many ICOs have turned out to be scams, and even the most legitimate ones carry a high degree of risk. However, ICOs offer a unique opportunity for investors willing to take that risk.

Unfortunately, the world of cryptocurrencies has become a hotspot for scammers, charlatans, and pseudo-experts, which you should be very vigilant about.

Among the actions to avoid being scammed are: analyzing the white paper of the ICO project, questioning every project from the first to the last letter, studying the team behind the initiative, as well as being attentive to cryptocurrency Telegram groups, summary websites, etc., as the information may not be impartial.

By Audy Castaneda

Dogecoin Replaced Cardano to Rank as the 6th Largest Cryptocurrency

Audy Castañeda
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Dogecoin Replaced Cardano to Rank as the 6th Largest Cryptocurrency

Hoskinson has extended the invitation for Dogecoin to join Cardano as a sidechain.

Rising to a six-month high, DOGE has replaced Cardano’s native ADA token as the sixth-largest cryptocurrency in the world. Elon Musk, the CEO of Tesla seems to be supporting DOGE after completing the Twitter acquisition. Musk previously advocated DOGE as a way to tax users for their tweets, and stop spam and Twitter bots.

Elon Musk’s initiatives have previously fueled Dogecoin’s price momentum. Musk was sued for $258 billion in damages in June 2022, for allegedly running a pyramid scheme to fund Dogecoin, according to the suit. Charles

Hoskinson, Founder of Cardano, Reacts

Hoskinson, the founder of Cardano, tweeted that, “Now that Twitter is in the hands of @elonmusk, I can see a real possibility that DOGE will somehow merge with the platform.”

Such announcement was received with mixed feelings. There were many DOGE enthusiasts who, on the one hand, expressed excitement over the possibility that the cryptocurrency may merge with Twitter.

On the other hand, other Cardano investors were apparently upset that Hoskinson is advocating for DOGE instead of ADA. They asked Hoskinson to push ADA to merge with Twitter.

Hoskinson has extended the invitation for Dogecoin to join Cardano as a sidechain. He says it’s ready to migrate at no cost and will be able to incorporate smart contracts.

Elon Musk, Twitter, and His Influence on Cryptocurrencies

Musk’s relationship with Dogecoin has been going on for quite some time and has several episodes. He once joked about being the CEO of the cryptocurrency, offered help to the project’s developers, and in a sketch on the popular Saturday Night Live comedy show, mocked DOGE and called it “a scam.”

On more than one occasion, his messages on Twitter or statements in some other way have shown his influence on the market. His words have moved the price of Dogecoin, Bitcoin, or even another meme cryptocurrency, Shiba Inu, on many occasions. His messages and that proven influence, although diminished over time, even led to accusations against him for allegedly manipulating the market.

In recent days, Musk changed his description on Twitter to define himself as head of the social network (“chief twit”), and this Wednesday, October 26, he visited the company’s headquarters in San Francisco, United States, just days to specify the acquisition of the social network.

Consequently, DOGE, which had already been experiencing a rise in its price pushed by the general recovery of the market, had a rebound of more than 15% on Wednesday, according to data from CoinMarketCap.

Elon Musk said last year that Dogecoin could be used to buy Tesla and Starlink assets. It caused the price of Dogecoin to rise by 17%.

However, not all of Musk’s observations led to an increase in the value of Dogecoin. In May 2021, Musk claimed that Dogecoin was his “hustle and bustle” at a comedy concert in the United States. The observations caused the price of Dogecoin to drop by 35%.

What exactly Musk intends to do with Dogecoin is unknown. This allows speculation and price volatility to continue unabated.

By Audy Castaneda

The Prices of ADA, DOGE, and APE Might Rise Considerably in the Short Term

Alexander Salazar
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The Prices of ADA, DOGE, and APE Might Rise Considerably in the Short Term

A steady rise in the use of the DeFi space might drive the price of ADA higher, especially in a bullish environment. While SHIB might rise considerably after the attention garnered by DOGE, APE might need a bullish market phase to reignite investor interest.

After a few weeks of sideways movements, the prices of crypto assets have recently achieved significant gains. The value of Bitcoin (BTC) rose above the USD 20,000 mark again, while some altcoins grew by double-digit percentages.

There might be a bullish period, but nobody knows which cryptocurrencies might reach significantly high increases. This article covers Cardano (ADA), Dogecoin (DOGE), and ApeCoin (APE), three cryptocurrencies that might still rise.

The Movements of Cryptocurrencies over the Last Few Days

The price of Bitcoin rose above the USD 20,000 mark for the first time in a few weeks. The increase in the value of the pioneering cryptocurrency caused altcoins to rise sharply.

Although BTC rose by around 8% over the last week, altcoins achieved much higher gains. While the price of Ether (ETH) increased by over 22% in that period, DOGE grew even twice.

The Market May Remain Bullish in the Medium Term

Many wonder whether the rise in the prices of cryptocurrencies may continue in the coming weeks. There have already been clear signs that a new bullish phase might start soon.

Although stock prices have dropped sharply, the crypto market has been stable. Despite the fear of a recession, the prices of cryptocurrencies did not fall further. The declining interest in government bonds might also signal a return to riskier assets like cryptocurrencies.

Therefore, the market may remain slightly bullish in the medium term over the next few weeks. That will be possible if the price of BTC can sustainably break out of the stabilization zone.

The Bullish Environment to Drive the Price of ADA Higher

The Vasil upgrade allowed Cardano to see a growth in the number of smart contracts and significant advances in scalability. A steady rise in the use of the DeFi space might also drive the ADA token again, especially in a bullish environment.

Meanwhile, ADA is trading at around USD 0.4156 and has accumulated a 1.3% gain over the last 24 hours. While its daily trading volume is above USD 856.75 million, its market capitalization is about USD 14.55 billion, according to CoinGecko.

The Price of SHIB May Rise even in a Bearish Market

The considerable increase in the price of Dogecoin has shown that meme coins can grow even in a bearish market. The SHIB token might also rise considerably in the coming weeks following the huge attention garnered by DOGE.

The value of SHIB also increased by over 30% over the last few days but lost it because of the massive DOGE rally. Since Shiba Inu might rebound in the coming weeks, it might become one of the cryptocurrencies with the highest price rises.

Investor Interest in APE Might Increase in Bullish Market

Over the last few weeks, the US Securities and Exchange Commission (SEC) has scrutinized ApeCoin, thus affecting its price negatively. Before that, the token was one of the most attractive projects on the market.

APE might need a bullish market phase to reignite the interest of investors in it. They should react to higher price increases with FOMO, causing considerable rises in the coming weeks amid a bullish market.

By Alexander Salazar

ETH, XRP, ADA, BNB, and MATIC

Audy Castañeda
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ETH, XRP, ADA, BNB, and MATIC

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Polygon.

Ethereum and XRP, along with other major altcoins, posted big gains this week.

After the crypto market began showing green numbers on Tuesday, more than $1.2 billion in short liquidations occurred in roughly 24 hours. Thus, the market emerged from the narrow price range in which it had fallen since September.

Ethereum (ETH)

Ethereum has had a very strong rally in the last seven days, rising 19.4%. This makes him the best player this week.

Looking ahead, the cryptocurrency is well supported at $1,400 and this latest price action has lifted the chart. The only question is whether the bulls will have the strength to make a higher high than the one in September; when the price reached almost $1,800. Otherwise, ETH may return to a downtrend.

Ripple (XRP)

Ripple was able to find good support at $0.44, which prevented the price from falling to the downside over the past week. The biggest challenge in the coming week is to maintain this level and try to move up again.

Looking ahead, XRP’s consolidation may soon come to an end and buyers may regain full control of the price action. The indicators seem eager to go higher again, and the next week will be decisive for the next destination of XRP. If this cryptocurrency fails to rise, the next support level is $0.38.

Cardano (ADA)

This week, Cardano impressed the market with a very strong rally, and it is also up 14.4% in the last seven days. This rapid rise in price was stopped at the $0.42 resistance, which has so far managed to stop this rally. If the buyers fail to push the price up early, the bears could take advantage of this weakness.

ADA really needed this confidence boost after a very rough month in which the price lost over 20%. This rally was a welcome change in price action and buyers should do their best to keep this momentum going into November.

Binance Coin (BNB)

With the market bullish, Binance Coin also had a good week, posting a price increase of 8.9% in the last seven days. Now, the bulls are looking for the key resistance at $300, which has proven to be a difficult level to break above in the past as the price has been rejected there twice since September.

Looking ahead, BNB appears to be nearing the end of a long period of consolidation that began in September and could end in November, with a possible break above $300. This would transform the bias quite bullish and allow buyers to have full control of price action.

Polygon (MATIC)

MATIC has been in a flat trend since August but has recently increased bullish momentum. The price is now approaching the key resistance at $1, after seeing a 14% price increase in the last seven days. If MATIC manages to break above $1, this long period of consolidation will be over.

Looking ahead, MATIC had a good month in October, considering that its price has risen over 20%. If this positive momentum can be maintained in November, then this cryptocurrency could enter a sustained uptrend that could take it to $1.3, which will be the next target.

By Audy Castaneda

The Bulls and the Bears Struggle to Control the Market at the End of October

Alexander Salazar
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The Bulls and the Bears Struggle to Control the Market at the End of October

Despite a significant rebound, Bitcoin might face the harsh reality of the price position and the Chikou Span below the Kumo cloud. The bulls might defeat the bears, as there have been no higher highs than previous ones.

This week has been very busy for all risk asset classes, particularly equity indexes. Despite the disappointing results of the GAFAM, the latter made investors feel optimistic by closing Friday’s session in style.

The month-end effect might explain this change without simply prejudging price manipulation in financial markets. October could end in the best way, erasing the disasters occurring in August and September.

Although Bitcoin (BTC) recently rose above USD 20,000 again, nobody knows whether it will favor the bears or the bulls. While a confrontation between the two camps seems to be arising, the next Fed meeting might be a turning point.

The Weekly Price of Bitcoin Reaches the Tenkan

A weekly bullish candlestick above the USD 20,000 support allowed Bitcoin to reach the Tenkan line after breaking the descending line of the bearish run. The bulls regain hope, although that optimistic technical signal remains timid compared to the Kumo future cloud heading into the first quarter of 2023.

If the price of BTC breaks above the Tenkan, it may validate a USD 20,000 throwback. Although that would allow the Chikou Span to do the same, its chances of rallying toward the USD 26,000 resistance would increase.

In addition, it would lead to a double bottom if it took place ideally; reminding investors it is a bullish chart pattern. The price would have to recover by over 20% at this time to make it possible.

Despite the possibility of a more significant rebound, Bitcoin might face the harsh reality of its price position. Besides, the Chikou Span has remained below the Kumo cloud for many months. Those technical signals might weigh heavily in neutralizing the bearish run of Bitcoin since its last all-time high in November.

The Daily Price of Bitcoin Re-Enters the Kumo

Since the price of Bitcoin returned above USD 20,000, it finally re-entered the Kumo daily, paving the way to USD 22,000. If the rebound attempt gained momentum by breaking that resistance, it would be above the cloud alongside the Chikou Span.

That has led to the hypothesis that the pioneering cryptocurrency would have something under its feet to climb higher. The goals would undergo adjustments that make that possible, depending on what will happen in weekly units.

A pullback below USD 20,000 would drive the price of BTC and the Chikou Span below the Kumo. Since the bears target the USD 16,000 and USD 12,000 supports, the market environment might turn around again.

Bitcoin might have a third wave of correction since its last all-time high in November, indicating bullish capitulation. In other words, the bulls might slowly outperform the bears in this confrontation that has just started.

However, Bitcoin is still in its bearish market after its last all-time high. Since there are no higher highs than previous ones, the beginning of a defeat of the bears might occur.

Due to the recent rise in risky asset classes, investors will watch the Fed meeting in November. They anticipate a possible transition from a tight monetary policy to a more accommodative one.

By Alexander Salazar

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