XRP Long-term Price Analysis - – February 17

  • There has been no indication showing us a good buying position for XRP, as the pair needs to drop to $0.25 or less.
  • Some investors may consider entering the market now.

XRPUSD Long-term Trend – Ranging

  • Distribution territories: $0.40, $0.45, $0.50
  • Accumulation territories: $0.20, $0.15, $0.10

The price of XRP has been going through ranged movements as it hasn’t been able to build upward movement after the February 8 spike it saw. The cryptocurrency has been featuring lower lows and highs around the $0.30 mark.

Ripple, XRPUSDXRP Chart by TradingView

In the last few days, XRP’s 14-day SMA has been moving around its price. The 50-day SMA is located between the $0.35 and $0.30 marks, above the 14-day SMA. The Stochastic Oscillators have crossed around range 40 where they appear to be consolidating.

This means the cryptocurrency’s price is likely going to continue ranging. There has been no indication showing us a good buying position for XRP, as the pair needs to drop to $0.25 or less for the bulls to have a strong position. Some investors may consider entering the market now.

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

Those Banned From Facebook May Not Be Able to Use Its Cryptocurrency Libra

Facebook’s two days of congressional hearings on the social media giant’s cryptocurrency ambitions seemingly revealed that those who have been banned from Facebook may not have access to Libra.

During the congressional hearing Facebook had to answer some tough questions, and one of them came from Representative Sean Duffy, which asked the company’s cryptocurrency head, David Marcus, who’ll have access to Libra.

The Congressman initially asked Marcus who could use the cryptocurrency, to which Calibra’s CEO answered: “anyone that can open a Calibra account, that can go through KYC [know-your-customer checks] in countries where we can operate.”

Duffy then referenced two individuals banned from Facebook for violating its community guidelines, Louis Farrakhan and Milo Yiannopoulo, and asked whether they’ll be able to use the social media giant’s cryptocurrency.

Marcus ended up replying he doesn’t “know yet,” after seeing Duffy hold a $20 bill and ask hin who can use it. His point was that cash doesn’t discriminate, and that anyone who can hold it can use it.

While throughout the hearing Marcus tried to point out the company will follow appropriate regulations and comply with lawmakers, Duffy responded that a proper answer would be “as long as you abide by the law, you can use Libra.” The fact he didn’t get this answer, Duffy said, gave him “great pause.”

Speaking to The Daily Beast Elka Looks, a Facebook spokeswoman, clarified Marcus addressed the Congressman’s concerns later on in the hearing. She stated:

For Libra, anyone who is engaging in lawful activity will be able to transact on the network. Facebook will have no say. For Calibra, there is no policy in place yet, but we will share it when it is closer to being finalized.

The news outlet adds that Calibra, Facebook’s wallet to send, receive, and hold Libra, doesn’t yet have final terms of service or a privacy policy. All of this means that those who’ve been banned on Facebook may not have access to its cryptocurrency.

As CryptoGlobe covered, Congressman Warren Davidson implied during the hearings Facebook’s crypto is a ‘shitcoin’ as it doesn’t have some of the properties bitcoin has. The Congressman made it clear bitcoin has no central authority that can censor transactions or dilute its value, while Libra has the Libbra Association.