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📈 Price Predictions
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XRP/USD Price Prediction — Can the New Partnerships Push Ripple to $0.5?

  • Denys Serhiichuk
    📈 Price Predictions

    Today lots of coins are highly volatile on the market, but not Ripple. Is it a chance to make a good profit or not?

XRP/USD Price Prediction — Can the New Partnerships Push Ripple to $0.5?
Cover image via www.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.

Contents

Unfortunately, the current news background is not so influential as it was before. If earlier, just information about a minor partnership could push the price of a coin to the moon, today, even cooperation with Nasdaq does not affect the market.

Today, Ripple partnered with one of the world’s largest money providers: Ria Money Transfer, a subsidiary of Euronet Worldwide. However, this news did not affect the price change as well.

Against all this, Ripple has even lost its positions, as the capitalization has decreased by around $150 million.

XRP/USD 30-min chart

XRP/USD chart by TradingView

In terms of the technical point of view, our price analysis for yesterday is still relevant, as sellers could not push down the price of $0.30. On the other hand, bulls also show no interest in XRP, taking into account the trading volumes.

Taking into consideration the technical indicators, RSI (Relative Strength Index) is neither overbought or oversold, while MACD is located in a slight uptrend.

A possible scenario for the upcoming days is reaching and consolidating in the yellow corridor $0.3050 - $0.3090.

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Ripple Price Prediction 2019: XRP Might Reach $1.20 by the End of 2019

Ripple Price Prediction 2019: XRP Might Reach $1.20 by the End of 2019

XRP/USD 6-hour chart

XRP/USD chart by TradingView

On the 6-hour chart, the quotes are trading in the descending channel, and it looks like there is no hope of rescuing them.

In order for the price to keep trading at high levels, XRP should touch the $0.2890 support zone before it can go up to the resistance one at $0.3460. Such a rate can be achieved until the end of May 2019.

The price of XRP is trading at $0.3133 at the time of writing.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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📰 News
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Telegram to Ask Court Not to Classify Gram Tokens as Securities During February Hearing: Details

  • Alex Dovbnya
    📰 News

    The February court hearing is expected to put an end to the legal battle between Telegram and the SEC by determining whether Grams are securities

Telegram to Ask Court Not to Classify Gram Tokens as Securities During February Hearing: Details
Cover image via www.123rf.com

Telegram will ask the court rule against classifying their Gram tokens as securities during the upcoming February hearing, according to a letter to TON investors that was obtained by U.Today. 

As reported by U.Today, Telegram was slated to voice its arguments against the US Securities and Exchange Commission (SEC) on Oct. 24. However, a new court filing shows that the hearing has been postponed to Feb. 18-19, 2020.

IT IS ORDERED that Defendants shall not offer, sell, deliver, or distribute “Grams” toany person or entity, until the conclusion of the hearing scheduled by the Court for February 18and 19, 2020 (“Hearing”), except upon further order of the Court or agreement of the parties.

The Telegram team states that the hearing that is scheduled to take place in February is fundamentally different from the one that was supposed to happen in October. Telegram expected the court to put an end to the ongoing dispute by ruling on the "core arguments" that their Gram token is not a security. 

The October 24 hearing, in contrast, was only to consider whether a delay should have been mandated, without conclusively resolving the core argument. 

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On Oct. 17, Telegram filed a response to the SEC where it states that its native token "will merely be a currency or a commodity." One day later, the regulatory watchdog asked the court not to reject its request for a preliminary injunction against the Pavel Durov-helmed company, adding that its argument about Grams not being securities wasn't convincing.

Telegram will make sure that its position is presented "as strongly as possible" during the forthcoming hearing. 

The Telegram Open Network (TON) was scheduled to go live by Oct. 31 (otherwise, Telegram would have to return money to its investors). However, the SEC sued the messaging giant for allegedly running an unregistered ICO, which forced the company to delay the launch of its network to Apr. 30, 2020 while trying to cut a deal with its investors. 

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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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