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.         

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.