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📈 Price Predictions
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Western Union Says ‘Bring On the Blockchain’. Ripple Happy to Oblige

  • Thomas Hughes
    📈 Price Predictions

    Ripple’s XRP added more than 20% during the last 7 days and almost 12% during the last 24 hours alone, currently trading at 0.38 against the US dollar

Western Union Says ‘Bring On the Blockchain’. Ripple Happy to Oblige
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Payment processor giant Western Union recently stated they are ready to adopt cryptocurrency transfers as they already operate with 130 currencies, and technology-wise, it wouldn’t be a problem for them.

The company also mentioned it could bridge the gap between crypto and cash, and that it has been testing Ripple’s xRapid since 2015; however, the first tests were early and potentially “too small” for a clear conclusion to be drawn.

For the time being, Western Union is closely watching crypto market developments and has not yet made a decision regarding digital coin integration. However, if they choose to add crypto transfers, it will probably take a long time, so I don’t expect to see it functional by the beginning of next year.

Chart Analysis – XRP/USD

XRP/USD chart

Ripple’s XRP added more than 20% during the last 7 days and almost 12% during the last 24 hours alone, currently trading at 0.38 against the US dollar. The rally began after a false break of the key support level at 0.30, which triggered a sharp rise and a break of the resistance zone between 0.33 and 0.35.

That previous resistance has now turned into support, so we can expect it to stop falling prices in the future, but the immediate target for now is 0.40, which is both a confirmed technical resistance as well as a psychological level.

If the pair goes straight into 0.40, we can expect a bearish correction there, mainly because the price increased rapidly in a short amount of time and the pair is now overextended. This is also indicated by the position of the Relative Strength Index, which has crossed its 70 level twice, indicating overbought.

Support zone: 0.33 – 0.35

Resistance zone: 0.40

Most likely scenario: move into 0.40 followed by shallow retracement or sideways movement

Alternate scenario: drop into support

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About the author

Thomas Hughes is an executive editor of U.Today. He is a skilled cryptocurrency trader and technical analyst deeply immersed into the cryptocurrency & blockchain technology area.

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Jim Cramer Suggests WeWork Isn't Worth Anything Because of Its Immense Debt

  • Alex Dovbnya
    📰 News

    SoftBank is expected to breathe new life into struggling WeWork, but Jim Cramer says that the company is plagued by a massive debt

Jim Cramer Suggests WeWork Isn't Worth Anything Because of Its Immense Debt
Cover image via u.today

Market analyst Jim Cramer told The Street that WeWork is really negative worth because of all its gargantuan debt. 

Having someone having leased is great idea, but it was, it was a leasing company, and I'm not going to diminish the fact that it was, at one point this fabulous story because it was growth, growth, growth, but it also was debt, debt, debt. 

On Oct. 22, CNBC reported that SoftBank would take control of WeWork while former CEO Adam Newman would maintain a small double-digit stake in the workspace rental company. 

It is expected that SoftBank would be able to get WeWork on a path to profitability, something that Uber and Lift, which recently launched their respective IPOs, are struggling to achieve. The Japanese giant could fork out an additional $5 bln to fund the embattled leasing company. 

Newman will reportedly walk take a cool $1.7 bln as part of the deal that would put WeWork's valuation to $8 bln on a pre-funding basis (a small fraction of the $45 bln it was worth before its failed IPO). 

WeWork was supposed to go public in September after confidentially filing for an IPO back in April, but its the hype around its public offering gradually started to dwindle and ended an in an epic fallout.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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