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XRP/USD Pair Price Analysis The XRP/USD traded to a fresh weekly low at $0.1740 before it began a new rally in line with Bitcoin and Ethereum. The pair witnessed an upsurge above barriers at $0.1800 and $0.1850 to enter into a positive area. The pair established itself over the 100 hourly SMA. It attained a fresh weekly high close to $0.1935 and it is now retracing lower. The pair moved beneath $0.1900 and it is currently close to a key support…

Facebook announced its Libra project in June 2019 with the plan to release it this year. Nevertheless, the stablecoin project was heavily criticized. As the criticisms continue, Facebook has been unable to provide any updates for months. Yesterday, it announced remarkable changes to scale back its global payment system. The most remarkable of the changes is a shift from the creation of an open international financial network to instead offer both single-currency and multi-currency coins to be tied to local currencies. Part of the…

Every new technological advance has two sides to its success story. One tells the tale of economic and social benefits that derive from it. The other one bears the ugly face of scamming, theft, and hoaxing. One clear example of this unofficial axiom is the surge in cryptocurrency scams that occurred throughout 2019. According to a CypherTrace report, hackers managed to steal more than $4.4 billion from cryptocurrency owners and entities last year. It is a staggering increase from the…

ETH/USD Pair Price Analysis The ETH against the USD pair experienced a modest recovery over the barrier at $155 within the previous three sessions. The pair settled well over $155 pivot level as well as the 100 hourly SMA. As it continued to the upside, it was able to test the initial major barrier close to $160. Nevertheless, a look at the pair’s hourly chart shows two active declining trend lines in the week with barrier close to $160 and…

Reports have it that Bitcoin holdings on one of the renowned cryptocurrency exchange Bitfinex have reduced by 66k over the previous four weeks. As of Mar. 17 this year, the number of Bitcoins held in the exchange was 200,140. However, the number declined by 33 percent to only 134,091 Bitcoin by Apr. 13. This huge decline is similar to the experience with another exchange BitMEX, which recorded a 38 percent reduction in its number of Bitcoin holdings following the massive flash crash that…

CrypoKitties also known as Dapper Labs have collaborated with Libra towards the development of an enhanced blockchain which developers will find friendly. CrypoKitties released a platform towards easing developers’ building and testing of programs. The all-new platform is known as “Flow Playground.” This platform ensures that testers and developers are able to run their programs without issues. The collaborative efforts of Libra and Dapper Labs will involve the incorporation of a programming language known as Cadence into their own style known as…

ETH/USD Pair Price Analysis The ETH/USD pair was able to settle beneath $160 before it began a new bearish wave. This led to price levels beneath $155 into a short-term bearish area. The pair continued beneath $150 and established itself beneath the 100 hourly SMA, thereby attaining a fresh monthly low at $148. It started retracing after it broke the barrier at $152. Nevertheless, it is currently encountering some barriers close to area between $156 and $157. On the pair’s…

The Federal Bureau of Investigations (FBI) released a press release on April 13 regarding cryptocurrency scams. According to the FBI, more cryptocurrency scams associated with the COVID-19 pandemic could surface. The FBI said that as more people enter the cryptocurrency space, there would be more fraud schemes related to cryptocurrency. The elderly are specifically at risk but the FBI said everyone is vulnerable to such scams. The agency noted the availability of many virtual asset service providers online as well…

There has been a large recovery in Bitcoin network’s computing power following its second biggest fall in history. Coin Metrics revealed that the network’s total computing power (also called the hash rate) has returned to normal 2020 levels after a substantial decline in March 2020. The hash rate stands for the miners’ aggregate computing power on Bitcoin network. When the hash rate is high, it is a sign of more miners’ harder efforts towards finding new Bitcoin blocks, together with the sustenance…