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When XRP Price Will Retest $0.30 Level? XRP Market Trends Explained By Traders

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  • Vera Yurina
    📈 Price Predictions

    XRP is going to retest $0.30 soon? Find out what traders think about bearish possibilities: read XRP price predictions from TradingView

When XRP Price Will Retest $0.30 Level? XRP Market Trends Explained By Traders
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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.

 

Having reached $0.30 level, XRP has stopped its growth and has been rejected again, which is not surprising for traders at all. Anyway, they hope that $0.30 retest will repeat soon and be more successful next time. What’s the chance of success? Let’s read XRP price predictions to find this out. 

XRP retest will happen soon
Ripple (XRP) price chart by TradingView

At the moment, Ripple’s XRP is sitting on weekly support. The next break and retest of this trend line will happen during the nearest days: this is when we can see XRP reach 35-36 cents.

What about the current technical indicators?

  • XRP has completed the 5 wave Elliot cycle and right now is moving in ABC corrective wave, from which we have developed a triangular formation.

  • The descending triangular formation which is developed right now has always been associated with lots of contradictions, coz this patterns could breakout either any side, that’s why traders need to wait for price confirmation and then make a decision.

  • Fib382 around 0.25 has worked as a perfect support level from more than a year and still, bulls are strongly defending this support level, but things will remain critical unless we see a huge spike in prices and volume. 

  • The major resistance for XRP is 21 weekly EMA sitting at 0.3 level break and weekly close above this level will surely confirm the next rally.

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XRP/BTC will recover, too

XRP BTC chart
Ripple (XRP) price chart by TradingView

What about XRP/BTC pair? On the chart from TradingShot, we can see the bullish proving that XRP/BTC is close to aggressively spike again. Besides the bullish divergence on the RSI, the price has completed almost 20 days above the 1D MA50, the first time it has done so since December 2018. All past such occurrences resulted in a strong bullish move. In a medium-term trade, we can take the profit once the 1D RSI hits 87.00 or 94.00 (though it’s quite risky).

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Federal Reserve System: Stablecoins Pose Potential Risks to Financial Stability

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  • Vladislav Sopov
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    According to its Financial Stability Report of November 2019, the Board of Governors has warned about the dangers of stablecoins.

Federal Reserve System: Stablecoins Pose Potential Risks to Financial Stability
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Contents

The Board of Governors of the U.S. Federal Reserve System have issued their monthly Financial Stability Report. This special report is dedicated to the profits and risks of "global stablecoins".

Stablecoins: Global System with So Many "Ifs"

First, the Federal Reserve admits to the numerous advantages that stablecoins present as a concept. It has been highlighed that stablecoins are "faster, cheaper, and more inclusive payments could complement existing payment systems". This is in comparison to cases where traditional financial institutions are sophisticated and poorly accessible. Stablecoins can also be managed to eliminate the volatility of cryptocurrencies, which is one of the borders for them to be utilized as the medium for exchange.

Therefore, the "global stablecoin initiatives" like Facebook's Libra can rapidly achieve cross-border adoption. However, the major threat for stablecoins is apparent - the "inability to convert in national currency". The loss of confidence in "pegging" the stablecoin to traditional assets can lead to a run, in which several holders will attempt to liquidate their stablecoins at the same time.

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This dramatic scenario may be caused by "poor design and governance", and can result in severe consequences for international economic activity, asset prices, and financial stability.

Transparency First

The Federal Reserve also outlined in its report that in many cases, stablecoins can be utilized for money laundering, terrorist financing, and other financial crimes. Therefore, the Federal Reserve would require operators of such systems to conduct their Due Diligence, as well as Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to avoid any abuse. Moreover, the problems of disclosure policy and protecting investor data should be of paramount importance for stablecoin issuers:

Disclosures should clearly detail consumer and investor rights and protections, including whether the holder of the stablecoin has any rights to the underlying asset. Issuers should be transparent on how the stablecoin is tied to the underlying asset, has been said in the Report.

Last but not least, the report highlighted that the Federal Reserve, together with the Group of Seven, will closely monitor stablecoin developments as well as all the risks associated with it.

Have anyone ever invested in stablecoins? Do you prefer to use it, or to pay extra fees for fiat gateways? Tell us your story on Twitter!

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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