Cardano (ADA) Long-term Price Analysis- January 15

ADA/USD Long-term Trend – Ranging

  • Supply zone: $0.0600, $0.0800, $0.1000
  • Demand zone: $0.0100, $0.0080, $0.0060

ADA continues in a range-bound market in its long-term outlook. The large bearish engulfing candle at $0.053001 returned the Cardano price back to the range as price dropped initially to $0.04291 on 10th January. The bearish pressure continued within the range with a further drop to $0.05477 in the demand area on 14th January.

The formation of a bullish railroad is an indication that the bulls are gradually staging a comeback within the range as yesterday session ended with price up at $0.04578 in the supply area.

Cardano, ADAUSD, Cryptocompare chartADA chart by tradingview

Price is below the two EMA crossover with the stochastic oscillator signal is parallel and its signal is in parallel line an indication of the ranging scenario.

ADAUSD is consolidation and trading between $0.05200 in the upper supply area and at $0.03300 in the lower demand area of the range. A breakout at the upper supply area may be considered for a long position after a retest while a breakdown at the lower demand area may be a short position with good candle pattern as confirmation for entries. Hence patience is needed to allow this occurred before taking any position as the range remains intact.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.

Santander Clarifies It Isn't Using XRP for International Payments

Spanish bank Santander has recently clarified via microblogging platform Twitter that it isn’t using the XRP cryptocurrency for international payments, but is instead using a product developed by Ripple, the firm behind the token.

Santander’s clarification came shortly after it mistakenly told a Twitter user who asked whether it was using XRP that it was using the cryptocurrency for “international payments to 18 EU countries and the USA” through its One Pay FX app.

Given the attention the tweet received, Santander clarified the very next day it was a misunderstanding, and that its One Pay FX app uses Ripple’s xCurrent technology, and not the XRP token.

In its tweet Santander linked to a press release from last year, in which it revealed it was going to use blockchain-based technology to conduct international transfers for clients “on the same day in many cases or by the next day.” Per the document, Santander was the first bank to “roll out a blockchain-based international payments service to retail customers in multiple countries simultaneously.”

As CryptoGlobe covered in March of last year, the Spanish bank partnered with Ripple to launch the One Pay FX app, which is said to rely solely on Ripple’s xCurrent and RippleNet products, not XRP. The app’s users aren’t just able to see their transactions get settled in a short amount of time, they’re also able to see how much each transfer will cost.

One Pay FX was initially available to users  in Spain, the UK, Brazil, and Poland. Over time, Banco Santander revealed it was set to roll it out to more countries throughout the world. Notably, Santander has invested in Ripple back in 2015 and 2016.

Last year, Ripple formed various partnerships to see financial institutions use its products. Among them was MoneyGram, with the goal of speeding up fiat currency settlements. It also joined a consortium of 61 Japanese banks to create an instant payments app .