XRP Price Analysis – February 15

  • The XRP price is in a bearish momentum in the short and medium-term trend.
  • The crypto’s price consolidates at the $0.30 price level.

Ripple, XRPUSDXRP Chart By Trading View

XRPUSD Medium-term Trend: Ranging

  • Resistance Levels: $0.56, $0.58, $ 0.60
  • Support Levels: $0.29, $0.27, $0.25

The XRPUSD pair is in a sideways trend. On February 8, a bullish candlestick broke the bearish trend line. It was assumed technically that the bearish trend is terminated. The assumption was that if a candlestick had broken a bearish trend line and the following candlestick closed on the opposite of it; the current trend is said to be terminated.

From the daily chart, these conditions were fulfilled. On February 11, after the trend line was broken the bears pulled back price. Later, we have candlesticks in a rectangular blocks that are consolidating daily at a price of $0.30. However, from every indication price may breakout from this range bound movement.

There will be a continuation of the bullish trend of February 8, 2019. If we have a price breakout, the crypto will rally at the $0.33 or $0.40 price level. Meanwhile, the stochastic indicator is out of the oversold region and below the 40 % range which indicates that the XRP price is in a bearish momentum and a sell signal.

XRPUSD Short-term Trend: Ranging

Ripple, XRPUSDXRP Chart By Trading View

On the 4-hour chart, the XRP price was in a sideways trend zone after the downward correction. The 12-day EMA and the 26-day EMA are trending horizontally indicating that price is in a sideways trend. The crypto’s price is neither below nor above the 12-day EMA and the 26-day EMA indicating that the price is in a sideways in trend.

Meanwhile, the stochastic indicator is in the oversold region and below the 20 % range which indicates that the XRP price is in a strong bearish momentum and a sell signal.

 

 

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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.