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XRP Price in Falling Wedge – Will It Reverse from Declining Soon?

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  • Yuri Molchan
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    A crypto trader breaks a bearish forecast on XRP, however, he points out at the Falling Wedge pattern the coin is forming

XRP price forms a Falling Wedge pattern – is there a chance of a bullish reversal?
Cover image via 123rf.com

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.

On Thursday, the XRP price plunged below the psychologically important level of $0.25 and is now trading at $0.23, showing a decline of 5.51 percent.

As Bitcoin price has plunged even lower, the cryptocurrency market is going through a bloodbath.

Ethereum and EOS are suffering the most, both losing over 12 percent.

Next comes Bitcoin Cash (-13.10 percent), then father crypto Bitcoin (-10.28 percent), Litecoin, Bitcoin SV and Binance Coin.

Crypto bloodbath
Image via CoinMarketCap

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A crypto analyst is forecasting XRP to slide further down to $0.22.

However, he points out to the fact that the XRP price is forming a Falling Wedge pattern. Wedge patterns have a high chance of reversing, so in the case of the Walling Wedge, the community might perhaps see XRP ascending soon.

Still, a recent forecast offered by @themooncarl analyst, when BTC also formed a Falling Wedge pattern, has not come true.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Ethereum’s Vitalik Buterin: Fiat Money Will Not be Destroyed

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  • Vladislav Sopov
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    Vitalik Buterin, Co-Founder of the Ethereum Foundation and “father” of Ethereum, sat down with Eric Weinstein on The Portal podcast to discuss “old” and “new” economics.

Vitalik Buterin, Ethereum: Fiat Money Will Not Be Destroyed
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Contents

Two intellectuals, Vitalik Buterin (Creator of Ethereum), and Eric Weinstein (PhD, scientist, and Managing Director at Thiel Capital), recently sat down on The Portal to discuss Mr. Buterin's attitude towards the "classic" economics theory.

Libertarianism and Diversity

When both individuals discussed libertarianism, Vitalik Buterin said that libertarians mostly belong to two large groups characterized as either a "leave me alone'" or "conquer the world" approach. This divergence can be extrapolated into cryptocurrencies in terms of their mass adoption.

Mr. Buterin highlighted that there are participants within the crypto community that are assured that fiat currencies will be destroyed and replaced by Bitcoin (BTC). In general, Mr. Buterin estimated that the prospects of any "short-term disruption" for the sake of some "nebulous long-term gain" is skeptical. He said:

I'm definitely not in the camp that actively relishes that fiat currencies will be destroyed. 

Mr. Buterin added that several members within the Bitcoin community share this belief.

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Peaceful Coexistence

Vitalik Buterin predicts that Bitcoin and other cryptocurrencies will coexist with fiat money and balance the disadvantages of the classic monetary system. He also added that cryptocurrencies will provide "checks and balances" against a government monopoly on "issuing money" rather than "replacing it entirely".

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Mr. Buterin is well-known as a champion of pluralism in future world of cryptocurrency. He is sure that different communities will defend their views on its development.

Will crypto one day replace fiat money? Tell us your opinion 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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