XRP Price Analysis – February 22

  • The bulls were unable to break the $0.34 resistance level since January 10.
  • If the bulls have a price breakout, the bulls will break the resistance level and reach a high of $0.40.

Ripple, XRPUSDXRP Chart by Trading View

XRPUSD Medium-term Trend: Bullish

  • Resistance Levels: $0.56, $0.58, $ 0.60                                                                                                                 
  • Support Levels: $0.32, $0.30, $0.28

Yesterday, February  21, the XRP price was in a bearish trend. From the daily chart, the crypto's price was resisted at the $0.34 price level. This was the price level the bears broke as support level since January 10. The broken support level turns a resistance level to the bulls. The $0.34 price level had remained unbroken since  January 10.

On January 31 and February 21, the bulls were repelled at the $0.34 resistance level. The crypto's price is above the 12--day EMA and the 26-day EMA which indicates that the price is likely to rise. On the upside, if the bulls have a price breakout, the bulls will break the resistance level and reach a high of $0.40.

On the other hand, if the bears have a price break down, the bears will break below the EMAs and find support at the $0.30 price level.  Meanwhile, the stochastic indicator is in the overbought region and but below the 80 % range which indicates that the XRP price is in a  bearish momentum and a sell signal.

 XRPUSD Short-term Trend: Bearish

Ripple, XRPUSDXRP Chart by Trading View

On the 4-hour chart,  the XRP price is in a bearish trend. Yesterday, the bears broke below the 12-day EMA and the 26-day EMA as the price fell to the low of $0.32. In the 4-hour chart, the crypto's price is below the EMAs which indicates that price is likely to fall.  In the meantime, the crypto's price is ranging below the EMAs.

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

 

 

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

Chainalysis Launches Real-Time Suspicious Transaction Alerts for 15 Cryptocurrencies

Blockchain intelligence firm Chainalysis has introduced "suspicious cryptocurrency transaction alerts" in "Chainalysis Know Your Transaction (KYT)", its "real-time anti-money laundering (AML) compliance solution".

Chainalysis, which was founded in 2014 by Dr. Michael Gronager (the current Chief Executive Officer), Jan Moller (the current Chief Technology Officer), Jonathan Levin (the current Chief Operating Officer), is a company with two main products:

  • Chainalysis Reactor -- its investigation software suite
  • Chainalysis Kknow Your Transaction (KYT) -- its compliance software suite

Chainalysis KYT supports "real-time transaction screening"; "case management capabilities"; "enhanced due diligence"; and "KYT for token issuers".

In a press release published on its blog on Thursday (August 22), Chainalysis says that Chainalysis KYT's alerts are "designed to help cryptocurrency businesses and financial institutions mitigate exposure to regulatory and reputational risk by helping compliance teams focus on the most urgent activity and enforce compliance policies while better allocating resources."

John Dempsey, VP Product, Chainalysis, had this to say:

As lawmakers and regulators focus their attention on the industry, it is more critical than ever that cryptocurrency businesses demonstrate compliance best practices.

According to Chainalysis, this new feature results in alerts being generated "whenever a transfer involves a risky counterparty and crosses a value threshold." Alert levels (Severe, High, Medium, and Low) are "based on factors such as category, service, direct versus indirect exposure, direction of funds, and amount," and are available for all 15 cryptocurrencies that Chainalysis supports (including BTC, ETH, BCH, LTC, USDT, and DAI).

Michael Breu, Gemini's Chief Compliance Officer, also chose to comment on this announcement:

As a New York Trust company we are required to monitor transactions on and off our platform. Tools like KYT alerts, which provide real time and ongoing blockchain analysis, coupled with Gemini's own compliance policies, help us meet our regulatory obligations.

 

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