Former White House official will lead Ripple’s policy and government arm

September 26, 2023 Coin Telegraph

Ripple's newest head of U.S. public policy previously worked in similar roles at Softbank Group, Zoom, and Lyft following six years in government.

Lauren Belive, a former official with the White House’s Office of Legislative Affairs and policy director with the United States House Committee on Rules, has joined crypto firm Ripple as its head of U.S. public policy and government.

In a Sept. 26 announcement on LinkedIn, Belive said she had accepted the policy position at Ripple to lead engagement in Washington D.C. and across the United States. She had previously worked in similar roles at Softbank Group, Zoom, and Lyft following her experience in government.

“With regulatory landscapes evolving, it's paramount that we advocate for policies that not only support the crypto industry but also the countless individuals and businesses that could benefit from these advancements,” said Belive.

*Lauren Belive's Sept. 26 announcement. Source: LinkedIn*

The addition of Belive to Ripple came amid the firm’s lawsuit with the U.S. Securities and Exchange Commission over the XRP token. Though the case is ongoing, a judge in July ruled that the token was largely not a security, with the impact rippling through the crypto space.

Members of major U.S.-based crypto firms seemed to be stepping up advocacy efforts among lawmakers attempting to address regulatory clarity in the space. Coinbase’s ‘Stand with Crypto’ campaign encourages users to vote for crypto-friendly candidates at the state and federal levels.

At the time of publication, U.S. lawmakers were at odds on spending bills aimed at avoiding a government shutdown after Sept. 30. Several crypto bills awaiting a floor vote in the House of Representatives could be delayed if members of Congress are unable to come to an agreement within the week.

Magazine: Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’

Price analysis 9/25: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, TON, SOL

September 25, 2023 Coin Telegraph

ada

The strength in the United States dollar index could keep Bitcoin and select altcoins under pressure in the near term.

Bitcoin’s (BTC) weakness on Sep. 24 shows that the bears remain in control. Sellers are trying to pull the price below $26,000 but the bulls are likely to defend the level with vigor. Buyers are trying to achieve a positive monthly close for Bitcoin in September for the first time since 2016.

If they can pull it off, it will be a major sentiment booster as October generally favors the buyers. According to CoinGlass data, Bitcoin has seen a negative monthly close in October only on two occasions, in 2014 and 2018. However, Bitcoin bulls will find it difficult to maintain the momentum if macroeconomic headwinds persist.

*Daily cryptocurrency market performance. Source:* *Coin360*

Another risk to the cryptocurrency recovery may come from the strength in the greenback, which has risen for ten straight weeks, its longest winning streak since 2014. The United States dollar index (DXY) has also formed a golden cross, indicating further potential upside in the near term.

Will the U.S. dollar extend its gains or witness a short-term correction? Can Bitcoin bulls hold off the bear pressure in the last week of September? Let’s analyze the charts to find out.

S&P 500 Index price analysis

The S&P 500 Index turned down sharply from the downtrend line and broke below the moving averages on Sep. 15. This started a downward move, which has reached the crucial support at 4,325.

*SPX daily chart. Source:* *TradingView*

The 20-day exponential moving average (4,422) has started to turn down and the relative strength index (RSI) is near the oversold territory, indicating that bears have the edge. If the price maintains below 4,325, the index will complete a bearish head and shoulders (H&S) pattern. This negative setup has a target objective of 4,043.

If bulls want to prevent the fall, they will have to quickly drive the price above the 20-day EMA. That could attract further buying and the bulls will then attempt to kick the price above the downtrend line. If they manage to do that, the index has a good chance of retesting the local high at 4,607.

U.S. dollar index price analysis

The U.S. dollar index bounced off the 20-day EMA (104.85) on Sep. 20, indicating that the sentiment remains positive and traders are buying on dips.

*DXY daily chart. Source:* *TradingView*

The up-move is likely to hit a wall at 106. This is the key level to keep an eye on in the near term. If the price turns down from this resistance but bounces off the 20-day EMA, it will enhance the prospects of a rally above 106. The next resistance on the upside is at 108.

Sellers will have to yank the price back below the 20-day EMA if they want to weaken the bullish momentum. The index could then drop to 104.40 and later to the 50-day simple moving average (103.35).

Bitcoin price analysis

The uncertainty from the inside-day candlestick pattern on Sep. 22 and 23 resolved to the downside on Sep. 24. This suggests that the bears have asserted their supremacy.

*BTC/USDT daily chart. Source:* *TradingView*

The sellers will try to strengthen their position further by pulling the price to the solid support at $24,800. This remains the key level to watch out for in the near term as the bulls are expected to defend it with all their might. If the $24,800 support gives way, the BTC/USDT pair could start a downward move to $20,000.

Time is running out for the bulls. If they want to start a meaningful recovery, they will have to push and sustain the price above the moving averages. That will open the doors for a retest of the overhead resistance at $28,143.

Ether price analysis

Ether (ETH) has been gradually slipping toward the pivotal level at $1,531, suggesting a lack of buying support from the bulls.

*ETH/USDT daily chart. Source:* *TradingView*

Although the downsloping moving averages indicate advantage to sellers, the RSI is showing signs of forming a bullish divergence. This suggests that the selling pressure could be reducing. This increases the likelihood of a bounce off $1,531.

If bulls shove the price above the 20-day EMA ($1,616), it will signal a range-bound action between $1,531 and $1,746 for a few days. This view will invalidate if bears sink and sustain the ETH/USDT pair below $1,531. The pair could then plummet to $1,368.

BNB price analysis

BNB (BNB) has been swinging between $220 and $203 for the past few days. In a range, traders generally buy near the support and sell close to the resistance.

*BNB/USDT daily chart. Source:* *TradingView*

Both moving averages are sloping down, indicating advantage to bears but the RSI is trying to form a bullish divergence. This suggests that the bearish momentum may be weakening. Buyers are likely to defend the $203 level with vigor.

If the price rises from the current level or bounces off $203, it will suggest that the range-bound action may continue for some more time. Sellers will need to tug the price below the critical support at $203 to take charge. The BNB/USDT pair could then plunge to $183.

XRP price analysis

After staying above the 20-day EMA ($0.50) for a few days, XRP (XRP) tumbled below the level on Sep. 24. This suggests that the bears have gained the upper hand.

*XRP/USDT daily chart. Source:* *TradingView*

XRP price could fall to the uptrend line, which is expected to act as a strong support. If the price rebounds off the uptrend line, the bulls will again try to shove the price above the 20-day EMA. If they do that, it will signal aggressive buying at lower levels. The pair may then climb to the 50-day SMA ($0.53).

Contrarily, if the uptrend line fails to hold, XRP price could first slump to $0.46 and thereafter to the formidable support at $0.41. This level is likely to attract strong buying by the bulls.

Cardano price analysis

Cardano (ADA) dropped to the critical support at $0.24 on Sep. 25, indicating that the bears have maintained their pressure.

*ADA/USDT daily chart. Source:* *TradingView*

A minor advantage in favor of the bulls is that the RSI is forming a bullish divergence. The bulls will have to quickly shove the ADA/USDT pair above the downtrend line to reduce the risk of a breakdown below $0.24. If they can pull it off, the bearish descending triangle will be rendered invalid and that could boost the price to $0.29.

Instead, if bears drag ADA price below $0.24, it will complete the bearish setup. That could start a downward move toward $0.22 and subsequently to the pattern target of $0.19.

Dogecoin price analysis

Dogecoin (DOGE) is stuck inside a tight range between $0.06 and the 20-day EMA ($0.06). Typically, a volatility squeeze is followed by an expansion in volatility but it is difficult to predict the direction of the breakout.

*DOGE/USDT daily chart. Source:* *TradingView*

If the price turns up off the current level, the bulls will again try to clear the overhead hurdle at the 20-day EMA. If they succeed, the DOGE/USDT pair could rise to $0.07 and later sprint to $0.08. The bears are expected to sell near this level.

Alternatively, if the range resolves to the downside with a break below $0.06, it will indicate that bears have seized control. DOGE price may then nosedive to the next major support at $0.055.

Toncoin price analysis

Toncoin (TON) turned down sharply from the overhead resistance at $2.59 on Sep. 20 and continued lower, indicating that the bulls are booking profits.

TON/USDT daily chart. Source: TradingView

The first support on the downside is at the 20-day EMA ($2.11). If the price rebounds off this level with strength, it will suggest that the sentiment remains positive and traders are buying on dips. The bulls will then again try to push the price to $2.59.

Contrary to this assumption, if the price skids below the 20-day EMA, it will indicate that the bulls are losing their grip. The TON/USDT pair could first dip to the psychological level of $2 and later to the 50-day SMA ($1.72). A deeper correction is likely to delay the next leg of the up-move.

Solana price analysis

Solana (SOL) has been clinging to the 20-day EMA ($19.53) for the past few days, indicating a tough battle between the bulls and the bears.

*SOL/USDT daily chart. Source:* *TradingView*

The flattish 20-day EMA and the RSI just below the midpoint indicate a balance between supply and demand. On the upside, the bulls will have to thrust the price above the 50-day SMA ($20.80) to signal the start of a recovery to $22.30.

Conversely, if the price turns down from the current level, it will suggest that the bears are back in command. The SOL/USDT pair could then retest the important support at $17.33. If this level snaps, the pair may collapse to $14.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Price analysis 9/22: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

September 22, 2023 Coin Telegraph

Binance Coin

Bitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips.

The Federal Reserve did not hike interest rates in its meeting on Sep. 20 but hinted that rates could remain higher for longer. At the post-meeting press conference, Fed Chair Jerome Powell cautioned that “the process of getting inflation sustainably down to 2% has a long way to go.”

This possible scenario may have triggered the sell-off in the United States equities markets and also in the cryptocurrency space. Risk assets typically tend to underperform in a high-interest-rate environment.

While the S&P 500 is down more than 2% and the Nasdaq about 3% this week, Bitcoin (BTC) has a remained flat.

The altcoins have been unable to hold on to their intra-week gains due to a risk-off sentiment. Still, an encouraging sign is that Bitcoin and the major altcoins have largely managed to stay above their crucial support levels. The price action over the next few days is critical as it is likely to witness a tough battle between the bulls and the bears.

Will bears seize the initiative and drag Bitcoin and the major altcoins lower or could buyers regroup and push prices higher? Let’s study the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin has been trading between the moving averages for the past few days. This tight-range trading indicates indecision between the bulls and the bears about the next directional move.

Buyers are attempting to keep the BTC/USDT pair above the 20-day exponential moving average ($26,520). If the price rises from the current level, the bulls will again try to overcome the barrier at the 50-day simple moving average ($27,050). If they are successful, the pair could surge to the next resistance at $28,143.

In contrast, if the price plummets below the 20-day EMA, it will suggest that the bears are back in command. That will increase the possibility of a retest of the pivotal support at $24,800.

Ether price analysis

Ether (ETH) turned down from the 20-day EMA ($1,628) on Sep. 20, indicating that the bears continue to sell on rallies.

The bears will try to solidify their position further by pulling the price below the vital support at $1,530. If they manage to do that, the ETH/USDT pair could start a downward move toward the next major support at $1,368.

Contrarily, if the price turns up from the current level or rebounds off $1,530, it will suggest that lower levels are attracting buyers. The first sign of strength will be a break and close above $1,670. That will clear the path for a potential rally to $1,745.

BNB price analysis

BNB (BNB) turned down from $220 on Sep. 18 and broke below the 20-day EMA ($214) on Sep. 20. This suggests that the price may consolidate between $203 and $220 for a while longer.

If the price sustains below the 20-day EMA, the bears will make one more attempt to tug the BNB/USDT pair below the crucial support at $203. If they succeed, it will indicate the resumption of the downtrend. The next support on the downside is at $183.

On the upside, the bulls will have to clear the hurdle at the 50-day SMA ($222) to signal a comeback. The pair could first rally to $235 and subsequently attempt an up-move to $250. This level is expected to attract sellers.

XRP price analysis

XRP (XRP) rose above the 20-day EMA ($0.51) on Sep. 19 but the bulls are struggling to sustain the recovery.

The price has again dropped to the 20-day EMA, which is an important support to keep an eye on. If the price turns up from the current level, it will suggest a change in sentiment from selling on rallies to buying on dips. The bulls will then again attempt to kick the price above the overhead zone between the 50-day SMA ($0.53) and $0.56.

On the contrary, if the 20-day EMA gives way, the pair could fall to the uptrend line. This is an important level for the bulls to defend because a break below it will invalidate the bullish pattern.

Cardano price analysis

Cardano’s (ADA) price action of the past few days has formed a descending triangle pattern, which will complete on a break and close below $0.24.

The gradually downsloping moving averages suggest advantage to bears but the bullish divergence on the RSI indicates that the bearish momentum may be slowing down. Buyers will have to quickly shove the price above the downtrend line to prevent a breakdown. If they do that, the ADA/USDT pair will be well-positioned for a relief rally to $0.30.

If the price continues lower and breaks below $0.24, it will complete the bearish setup and set the stage for a fall to $0.22 and eventually to the pattern target of $0.19.

Dogecoin price analysis

Dogecoin (DOGE) turned down from the 20-day EMA ($0.06) on Sep. 21, indicating that the bears are aggressively defending the level.

However, the bears have not been able to strengthen their position by yanking the price below the formidable support at $0.06. This suggests that the bulls are buying on dips. The DOGE/USDT pair may swing between $0.06 and the 20-day EMA for some more time.

If bulls kick the price above the 20-day EMA, it will indicate the start of a sustained recovery to the 50-day SMA ($0.07) and then to $0.08. On the downside, if the $0.06 level cracks, the pair risks a potential decline to $0.055.

Solana price analysis

Solana (SOL) rose above the 20-day EMA ($19.57) on Sep. 18 but the bulls could not push the price to the 50-day SMA ($21.01). This suggests that the bears are active at higher levels.

The 20-day EMA is witnessing a tough battle between the bulls and the bears. If the sellers sustain the price below the 20-day EMA, the SOL/USDT pair could slump to $18.50 and thereafter to the next support at $17.33.

On the other hand, if the price sustains above the 20-day EMA, it will suggest that the bulls have flipped the level into support. That could increase the possibility of a retest of the overhead resistance zone between the 50-day SMA and $22.30.

Toncoin price analysis

Toncoin’s (TON) failure to rise above $2.59 on Sep. 19 and 20 may have tempted short-term traders to book profits.

The immediate support on the downside is at $2.25. If this level is violated, the TON/USDT pair could drop to the 20-day EMA ($2.08). If bulls want to retain the positive sentiment, they must defend this level. A strong rebound off the 20-day EMA could keep the pair stuck inside the large range between $2.07 and $2.59.

Another possibility is that the price snaps back from $2.25. If that happens, it will suggest that traders are not waiting for a deeper correction to buy. That will increase the likelihood of a break above $2.59. The pair may then jump to $2.90.

Polkadot price analysis

The bears are fiercely guarding the breakdown level of $4.22 in Polkadot (DOT), indicating that every minor relief rally is being sold into.

*DOT/USDT daily chart. Source:* *TradingView*

The downsloping moving averages and the RSI in the negative territory indicate that the bears have the upper hand. If the price continues lower and skids below $3.90, it will suggest the start of the next leg of the downtrend toward $3.58.

A minor advantage in favor of the bulls is that the RSI is showing early signs of forming a positive divergence. This suggests that the selling pressure could be reducing. A break and close above $4.22 will open the doors for a possible rally to the downtrend line.

Polygon price analysis

Polygon (MATIC) closed above the 20-day EMA ($0.54) on Sep. 19 but the bulls failed to build upon the momentum. This suggests that demand dries up at higher levels.

*MATIC/USDT daily chart. Source:* *TradingView*

The bears pulled the price back below the 20-day EMA on Sep. 21. The sellers will try to sink the pair below the strong support at $0.49. If they manage to do that, the MATIC/USDT pair could resume its downtrend. The next support on the downside is $0.45.

Alternatively, if the price rebounds of the $0.50 support with strength, it will suggest that lower levels are attracting buyers. The bulls will have to propel and sustain the price above $0.55 to signal the start of a stronger recovery.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum price sees new low versus Bitcoin since switching to Proof-of-Stake

September 21, 2023 Coin Telegraph

Analysis

Ethereum spot ETF request, Ripple’s potential win against the SEC, and growing decentralized app dominance retain hope for ETH investors.

Ether (ETH) has seen a 36% year-to-date increase in its price in 2023 in U.S. dollar terms. This recovery, however, is modest given that ETH is currently trading 66% below its November 2021 peak of $4,870.

Ethereum vs. Bitcoin: 14-month downtrend and counting

Moreover, on Sept. 20, Ether reached its lowest levels against Bitcoin (BTC) in 14 months, breaching the critical 0.06 BTC support. This has raised questions among Ether investors about the factors behind this price decline and what it will take to reverse the trend.

*Ether price / BTC at Coinbase. Source: TradingView*

ETH buyers placed their biggest hopes on protocol upgrades that significantly reduced the need for new coin issuance when the network transitioned to a Proof-of-Stake consensus mechanism.

These hopes were realized in mid-September 2022, resulting in an annualized issuance rate of just 0.25% of the supply. This transformation aligned with the Ethereum community's vision of "ultrasound money."

Furthermore, the subsequent Shapella upgrade on April 12 allowed for withdrawals from the native staking protocol, addressing a major concern for investors. Previously, both the 32 ETH deposits and the yield from participating in the network consensus were locked up indefinitely.

Confidence among Ethereum enthusiasts grew as these significant hurdles were crossed with minimal issues. They anticipated that the price of Ether would surpass $2,000, a prediction that came true on April 14.

However, this optimism was short-lived, as ETH's price promptly fell back to the same $1,850 level just a week later.

Notably, instead of witnessing a net withdrawal, Ethereum staking experienced a net inflow of 3.1 million ETH in the 30 days following the Shappela upgrade, surpassing even the most optimistic expectations.

Given that the Ethereum network's planned developments have generally been on track, albeit with the customary delays, investors now need to explore other potential catalysts for reversing the current downtrend in Ether's price relative to BTC.

External factors present important triggers for ETH price

One of these potential catalysts lies in the ongoing legal battle between Ripple (formerly Ripple Labs) and the U.S. Securities and Exchange Commission (SEC), which could significantly impact Ether's price momentum.

The SEC contends that XRP sales to retail investors constitute a security offering. However, in July, Judge Analisa Torres ruled that XRP generally does not qualify as a security under SEC guidelines, especially when distributed through exchanges.

As noted by the "American Lawyer and Bitcoiner" Bryan Jacoutot on a social network, the Ethereum Foundation remains exposed due to the pre-sale of ETH directed toward institutional investors and subject to a lock-up period.

(1/12) ANALYSIS: I've reviewed the district court ruling on XRP and it rests on very shaky ground. Expect an appeal.

AND Ethereum Foundation remains at risk even if its upheld because of important distinctions in the methods used by Ripple to sell the "pre-mine"

⬇️⬇️
— Bryan Jacoutot (@BryanJacoutot) July 13, 2023

According to Jacoutot, even if Ripple were to secure a favorable outcome, it wouldn't immediately mitigate the risks for Ethereum. Nevertheless, it's undeniable that the regulatory uncertainty surrounding the Ether ICO remains a source of concern for investors.

On Sep. 20, an Ethereum address associated with the ICO era showed its first activity, transferring 32.1 ETH (valued at $52,000 at the time) directly to Coinbase. This additional movement only amplified regulatory concerns since there are no apparent incentives for addresses that have remained dormant for four to eight years to divest at this particular point in the market cycle.

An Ethereum ICO participant who has been dormant for 8 years transferred 32.1 $ETH to #Coinbase just now.

The address received 200 $ETH at Ethereum Genesis.

And the address appears to be related to shemnon.eth (@shemnon).https://t.co/nj5eF8iRT0 pic.twitter.com/6Viytn4dU5
— Lookonchain (@lookonchain) September 20, 2023

A similar occurrence unfolded with an address linked to Vitalik Buterin, which sent 300 ETH (worth $490,000 at the time) to the Kraken exchange on Sep. 19.

More positive news gives hope for Ethereum investors

On the news side, Ethereum has seen some positive surprises, such as the unexpected request for a spot Ether exchange-traded fund (ETF) by ARK Invest and 21Shares on Sep. 6. This development reduced the risks associated with excessive institutional concentration in Bitcoin, particularly if the ETF is approved.

Additionally, Canto, a layer-1 Cosmos-native blockchain, announced its migration to Ethereum's layer-2 on Sep. 18. This Zero-Knowledge, permissionless rollup, compatible with the Ethereum Virtual Machine (EVM), is primarily focused on bringing traditional finance into the Ethereum ecosystem.

Should Bitcoin's price surge be driven solely by the approval of a spot Bitcoin ETF or inflation concerns in the U.S., Ether is well-positioned to follow suit, benefiting from the same catalysts.

Meanwhile, Ethereum's primary competitors in the decentralized applications sector, namely Solana (SOL) and BSC Chain (BNB), face similar risks pertaining to ICO and securities regulations, making it unlikely for them to challenge Ethereum's dominance in terms of total value locked, or TVL, and trading volumes.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Price analysis 9/20: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

September 20, 2023 Coin Telegraph

Binance Coin

Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sep. 20.

Bitcoin’s (BTC) recovery is facing selling above $27,000, indicating near-term nervousness due to the Federal Reserve’s meeting on Sep. 20. However, long-term investors are unfazed and they have continued to accumulate. Glassnode data shows that Bitcoin’s inactive supply has been at all-time highs since July.

This bullish temperament is not reflected in institutional activity, however. Investors have cut down on their cryptocurrency exposure and are sitting on the sidelines awaiting more clarity on the regulatory and macroeconomic front. Asset manager CoinShares reported that outflows from exchange-traded products hit $455 million over the past nine weeks.

Meanwhile, analysts remain divided about Bitcoin’s near-term price action. Bollinger Bands creator John Bollinger speculated in a X (formerly Twitter) post that Bitcoin could start an up-move but added that it was “too early to answer.”

The volatility could increase after Fed Chair Jerome Powell’s press conference but traders should be careful not to get sucked into a bull or a bear trap. It is better to wait on the sidelines and enter after the volatility subsides and a directional move begins.

What are the important levels to watch for on Bitcoin and the major altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin is facing stiff resistance at the 50-day simple moving average ($27,154) indicating that the bears are trying to halt the recovery.

The upsloping 20-day exponential moving average ($26,499) and the relative strength index (RSI) in the positive territory indicate that bulls are in control. If the price rebounds off the 20-day EMA, it will enhance the prospects of a rally above the 50-day SMA. If that happens, the BTC/USDT pair could climb to $28,143.

Conversely, if the price turns down and breaks below the 20-day EMA, it will indicate that the bears remain active at higher levels. A break and close below $26,000 may accelerate selling and sink the pair toward the crucial support at $24,800.

Ether price analysis

Ether (ETH) has been maintaining above the breakdown level of $1,626 for the past few days but the bulls have failed to build up on this strength.

The long wick on the Sep. 18 and 19 candlestick shows selling by the bears at higher levels. The flattish 20-day EMA ($1,637) and the RSI just below the midpoint suggest a balance between buyers and sellers.

A rally above $1,680 could tilt the advantage in favor of the bulls. The ETH/USDT pair could then rally to $1,745. On the contrary, a slide below $1,600 will suggest that bears have not yet given up. That could pull the pair to $1,530.

BNB price analysis

Buyers tried to shove BNB (BNB) above the overhead resistance at $220 on Sep. 18 and 19 but the bears defended the level successfully.

A minor advantage in favor of the bulls is that they have not allowed the price to slide back below the 20-day EMA ($215). This suggests that the bulls are buying the minor dips as they expect the up-move to extend further.

If buyers clear the zone between $220 and the 50-day SMA ($223), the BNB/USDT pair could start a rally toward $235.

If bears want to prevent the upside, they will have to tug the price back below the 20-day EMA. That could keep the price stuck inside the $203 to $220 range for a while longer.

XRP price analysis

XRP (XRP) rose and closed above the 20-day EMA ($0.50) on Sep. 19, indicating that the bulls have the upper hand.

If the price stays above the 20-day EMA, it will suggest that the bulls are trying to flip the level into support. That will open the gates for a potential rise to the overhead resistance at $0.56 where the bears will likely make their stand.

The price action of the past few days is showing signs of forming a bullish ascending triangle pattern, which will complete on a break and close above $0.56. Buyers will have to keep XRP price above the uptrend line to safeguard the setup.

Cardano price analysis

The bulls have been trying to push Cardano (ADA) above the 20-day EMA ($0.25) for the past few days but the bears have not relented.

The flattening 20-day EMA and the RSI just below the midpoint suggest a balance between supply and demand. If buyers sustain the price above the 20-day EMA, ADA price will attempt a rally to the overhead resistance at $0.28.

Alternatively, if the price turns down sharply from the current level, it will signal that the bears are selling on relief rallies. A break and close below the $0.24 support will indicate the start of the next leg of the downtrend. The next support on the downside is at $0.22.

Dogecoin price analysis

Dogecoin (DOGE) has been trading near the 20-day EMA ($0.06) for the past few days, indicating that the bears are defending the level aggressively.

A small positive in favor of the bulls is that they have not allowed the price to slip below $0.06. This suggests that the bulls are trying to clear the overhead hurdle. If the 20-day EMA gives way, the DOGE/USDT pair could climb to $0.07 and later to $0.08.

Instead, if the price turns down sharply from the current level, it will suggest that the sentiment remains negative and traders are selling on rallies. The bears will then aim to yank the price below $0.06 and challenge the critical support at $0.055.

Solana price analysis

After struggling to rise above the 20-day EMA ($19.55) for a few days, Solana (SOL) finally overcame the obstacle on Sep. 18.

The 20-day EMA is flattening out and the RSI is just above the midpoint, indicating that the bears may be losing their grip. Buyers will try to push the price to the 50-day SMA ($21.14) and subsequently to the overhead resistance at $22.30. This level is likely to attract strong selling by the bears.

This positive view will invalidate in the near term if the SOL/USDT pair turns down and plummets below $18.50. The pair could then retest the strong support at $17.33.

Toncoin price analysis

Toncoin (TON) is currently in a strong uptrend. The bulls are trying to strengthen their position further by pushing the price above $2.59 but the bears have held their ground.

Although the up-move is facing selling near $2.59, the bulls have not ceded ground to the bears. This suggests that the traders are holding on to their positions as they anticipate another leg higher. Above $2.59, the TON/USDT pair could reach $2.90 and eventually $3.28.

The upsloping moving averages indicate advantage to buyers but the overbought level on the RSI warns of a possible correction or consolidation in the short term. The first support for TON price on the downside is $2.25 and the next level to watch out for is $2.07.

Polkadot price analysis

The bulls are struggling to propel Polkadot (DOT) above the breakdown level of $4.22, indicating that demand dries up at higher levels.

The bears will try to strengthen their position by sinking the price below the immediate support at $4. If they succeed, the DOT/USDT pair risks a slide to the crucial support at $3.90. A break and close below this level may start the next leg of the downtrend.

Instead, if the price turns up from the current level and rises above the $4.22-4.33 resistance zone, it could lead to short covering. The pair can first reach the 50-day SMA ($4.50) and thereafter climb to the downtrend line.

Polygon price analysis

Polygon (MATIC) rose and closed above the 20-day EMA ($0.54) on Sep. 19, indicating that the bulls are attempting a comeback.

Still, the 20-day EMA is likely to witness a tough battle between the bulls and the bears. If the bulls maintain the price above the 20-day EMA, the MATIC/USDT pair could climb to the overhead resistance at $0.60 and then to $0.65.

Contrarily, if the bears pull the price back below the 20-day EMA, it will signal that higher levels continue to attract selling. The bears will then try to build upon their advantage by pulling the price below $0.49.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Price analysis 9/18: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, TON, SOL

September 18, 2023 Coin Telegraph

ada

Bitcoin and select altcoins are attempting to make a comeback as traders expect the Fed to hold rates steady during their meeting this week.

The failure of the bears to sink Bitcoin’s (BTC) price below $25,000-support ignited buying interest last week. The positive momentum picked up further at the start of the new week and buyers are trying to sustain Bitcoin’s price above $27,000.

Market participants seem to be buoyant on expectations that the Federal Reserve will not hike rates this year. The CME FedWatch Tool shows a 58% probability that the rates will remain at the current levels even in the December meeting.

That could be one of the reasons why the strength in the United States dollar index (DXY) has not adversely impacted the price of Bitcoin. However, traders need to be careful as the last ten days in September are known to favor the bears. According to the Carson Group, the S&P 500 Index (SPX) has been positive on average only for two days between Sep. 20 and 30 since 1950.

Could Bitcoin and select altcoins extend their recovery further or will bears pull the price lower? Let’s analyze the charts to find out.

S&P 500 Index price analysis

The S&P 500 Index broke above the moving averages on Sep. 14 but the bulls could not keep up the momentum and clear the overhead hurdle at the downtrend line.

The bears sold aggressively at the downtrend line and pulled the price back below the moving averages on Sep. 15. Sellers will try to further strengthen their position by pulling the price below the next support at 4,030. If they do that, it will open the doors for a potential retest of the vital support at 4,325.

If bulls want to gain the upper hand, they will have to quickly drive the price above the downtrend line. There is a minor resistance at 4,542 but if this level is crossed, the index could sprint toward 4,607.

U.S. dollar index price analysis

The U.S. dollar index has continued to grind higher in the past few days but it is likely to face stiff resistance at 106.

If buyers do not allow the price to dip below the 20-day exponential moving average (104), it will enhance the prospects of a rally above 106. If that happens, the index could pick up momentum and soar to 108.

Alternatively, if the price turns down sharply from 106, it will suggest that bears are defending this level aggressively. A drop below the 20-day EMA could sink the price to the 50-day simple removing average (102). That could keep the price stuck between 101 and 106 for some more time.

Bitcoin price analysis

Bitcoin has maintained above the 20-day EMA ($26,394) since Sep. 14, indicating that the bulls have flipped the level into support. Buyers are trying to strengthen their position further by pushing the price above the 50-day SMA ($27,255).

The bears are expected to pose a strong challenge in the zone between the 50-day SMA and the overhead resistance at $28,143. If the price turns down sharply from this zone, it will indicate that the BTC/USDT pair may stay range-bound between $24,800 and $28,143 for a few days.

On the other hand, if bulls drive the price above $28,143, it will clear the path for $30,000 and $31,000 as the next targets.

Overall, time is running out for the bears. If they want to regain control, they will have to quickly yank the price back below the 20-day EMA.

Ether price analysis

After struggling near the 20-day EMA ($1,639) for the past few days, the bulls succeeded in pushing Ether (ETH) above the overhead resistance on Sep. 18.

The 20-day EMA is flattening out and the RSI is near the midpoint, indicating that the bulls are on a comeback. If buyers sustain the price above the 20-day EMA, the ETH/USDT pair could first rise to the 50-day SMA ($1,712) and thereafter to $1,750. A break above this level will signal a short-term double bottom. The pattern target of this bullish setup is $1,959.

However, the bears are likely to have other plans. They will try to tug the price back below the 20-day EMA and trap the aggressive bulls. A break below $1,600 could start a downward move toward presumably strong support at $1,531.

BNB price analysis

BNB (BNB) rose above the 20-day EMA ($215) on Sep. 17, indicating that the bearish momentum is weakening. The price could next reach the 50-day SMA ($224).

The bears are likely to offer stiff resistance in the zone between the 50-day SMA and $235. If the price turns down from this zone, it will signal that the BNB/USDT pair could remain range-bound between $200 and $235 for a while. The flattish 20-day EMA and the RSI near the midpoint also suggest a consolidation in the near term.

Instead, if the bears sink the price below the 20-day EMA, the pair could again retest the vital support near $200. The repeated retest of a support level within a short interval tends to weaken it. If this level cracks, the pair may tumble to $183.

XRP price analysis

XRP’s (XRP) recovery is facing selling near the 20-day EMA ($0.50) but the bulls have not given up and are trying to push the price above the resistance.

If buyers kick the price above the 20-day EMA, the XRP/USDT pair could attempt a rally to $0.56. This level could prove to be a difficult barrier for the bulls to overcome.

Contrarily, if the price turns down from the current level, it will suggest that the bears are fiercely protecting the 20-day EMA. There is a minor support at the uptrend line but if this level cracks, the pair risks sliding to $0.45 and eventually to $0.41.

Cardano price analysis

Cardano (ADA) continues to be squeezed between the 20-day EMA ($0.25) and the critical support at $0.24. This tight-range trading is unlikely to continue for long and a breakout may be around the corner.

The positive divergence on the RSI suggests that the selling pressure is reducing. If the uncertainty resolves to the upside, it will pave the way for a possible rally to the overhead resistance at $0.28.

On the contrary, if the price plummets below $0.24, it will signal that the bears have asserted their supremacy. That could signal the start of the next leg of the downtrend. The ADA/USDT pair may then slump to $0.22.

Dogecoin price analysis

Dogecoin (DOGE) has been stuck between the 20-day EMA ($0.06) and the horizontal support at $0.06 for the past few days.

Generally, a squeeze in volatility is followed by a range expansion. If the DOGE/USDT pair soars and closes above the 20-day EMA, it will suggest that bulls are attempting a comeback. The pair could then rally to $0.07. Buyers will have to overcome this roadblock to start an up-move to $0.08.

This positive view will be invalidated if the price turns down and dives below the $0.06 support. That could pull the price down to the next support at $0.055. The bulls are expected to guard this level with vigor.

Toncoin price analysis

The long wick on Toncoin’s (TON) Sep. 16 and 17 candlestick shows that traders are booking profits near the overhead resistance at $2.59.

The overbought level on the RSI suggests a possible correction or range formation in the near term. However, the bulls have not given up and are again trying to propel TON price above $2.59. If they can pull it off, TON/USDT could pick up momentum and skyrocket to $3.

The important support to watch for on the downside is $2.25. If this level gives way, the pair could start a deeper correction to the next support at $2.07.

Solana price analysis

After trading near the 20-day EMA ($19.47) for the past few days, Solana (SOL) broke above the resistance on Sep. 18.

The 20-day EMA is flattening out and the RSI is near the midpoint, indicating that the bears may be losing their grip. Buyers will try to cement their position further by pushing the price to the overhead resistance at $22.30. This level is likely to attract sellers.

If the bulls fail to hold the price above the 20-day EMA, it will suggest that bears are selling at higher levels. The first support on the downside is $18.50 and if this level is violated, SOL price risks descending towar the next major support at $17.33.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Price analysis 9/15: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

September 15, 2023 Coin Telegraph

Binance Coin

The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating that the overall sentiment remains negative.

Bitcoin (BTC) has been stuck inside a large range since April, indicating indecision about the next directional move. Efforts by the bears to sink the price below the support of the range were thwarted by the bulls on Sep. 11. However, Bitcoin is not out of the woods yet.

Jamie Coutts, a chartered market technician and crypto market analyst at Bloomberg Intelligence, while speaking to Cointelegraph said that if the tightening cycle extends, followed by “an uptick in unemployment and more stress in the banking sector, then there could be a bit more pain for risk assets like Bitcoin.”

Cryptocurrency traders have also remained cautious. A Bitfinex report shows that the cryptocurrency industry witnessed capital outflows of $55 billion in August. The drop in liquidity has caused isolated events to “have a bigger impact on market movements,” the report added.

Will Bitcoin turn down and retest its pivotal support? Could Bitcoin’s weakness trigger further selling in altcoins? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin broke and closed above the 20-day exponential moving average ($26,228) on Sep. 14, indicating that the downside momentum is weakening.

The 20-day EMA is flattening out and the relative strength index (RSI) is near the midpoint, signaling that the BTC/USDT pair may stay range-bound between $24,800 and $28,143 for some more time.

If bears want to make a comeback, they will have to quickly pull the price back below the 20-day EMA. Such a move will suggest that higher levels are being sold into. That could result in a retest of the strong support at $24,800.

Ether price analysis

Ether (ETH) plunged below the $1,550 support on Sep. 11 but the bears could not build upon this strength. This suggests solid buying at lower levels.

The bulls thereafter started a recovery, which has reached the 20-day EMA ($1,638). This level is likely to witness a tough battle between the bulls and the bears. A break and close above the 20-day EMA could trap several aggressive bears, resulting in a short squeeze. That could propel the price to $1,745.

Instead, if the price turns down from the 20-day EMA, it will suggest that the bears remain in command. The sellers will then make another attempt to sink the ETH/USDT pair below $1,550 and resume the downtrend.

BNB price analysis

BNB (BNB) bounced off the psychological support near $200 on Sep. 12, indicating that the bulls are active at lower levels.

The recovery has reached the 20-day EMA ($215), which is an important level to watch out for. If the BNB/USDT pair turns lower from the current level, it will indicate that the sentiment remains negative and traders are selling on relief rallies. That will increase the risk of a breakdown below $200.

Contrarily, the RSI is forming a positive divergence, indicating that the selling pressure could be reducing. A rise above the 20-day EMA could open the doors for a retest of the 50-day SMA ($225).

XRP price analysis

XRP (XRP) has been trading between $0.41 and $0.56 for the past several days. The price has recovered to the 20-day EMA ($0.50), which is an important level to keep an eye on.

If buyers thrust the price above the 20-day EMA, it will indicate that the selling pressure is reducing. That could start a sustained recovery toward the overhead resistance at $0.56. This level may again act as a roadblock.

If the price turns down from $0.56, it will indicate that the range-bound action may continue for some more time. The next trending move is likely to begin after bulls push the price above $0.56 or bears sink the XRP/USDT pair below $0.41.

Cardano price analysis

The strong selling in Cardano (ADA) pulled the price to $0.24 on Sep. 11 but the bears could not break the crucial support.

The rebound off $0.24 on Sep. 12 reached the 20-day EMA ($0.26) on Sep. 15. This level is likely to witness a tussle between the buyers and sellers. If the ADA/USDT pair turns down sharply from the 20-day EMA, it will indicate that every minor rise is being sold into. That could increase the risk of a drop to $0.22.

Contrarily, if buyers shove the price above the 20-day EMA, it will signal the start of a stronger recovery to $0.28.

Dogecoin price analysis

Dogecoin (DOGE) continues to trade between the 20-day EMA ($0.06) and the solid support at $0.06. This tight-range trading is unlikely to continue for long and a breakout may happen soon.

If buyers kick the price above the 20-day EMA, it will suggest that the sellers may be losing their grip. That could start a relief rally to the 50-day SMA ($0.07) where the bears are expected to intensify selling.

Contrary to this assumption, if the price turns down sharply from the 20-day EMA, it will enhance the prospects of a break below $0.06. If this support breaks down, the DOGE/USDT pair may plummet to $0.055.

Solana price analysis

Solana (SOL) has been swinging between $14 and $27.12 for the past several months. The price has reached the 20-day EMA ($19.51) where the bears are likely to pose a stiff challenge.

If buyers thrust the price above the 20-day EMA, the SOL/USDT pair could reach the overhead resistance at $22.30. This level may again act as a strong hurdle but if bulls overcome it, the pair could climb to $27.12.

On the contrary, if the price turns down from the 20-day EMA, it will signal that demand dries up at higher levels. The bears will then try to resume the downtrend and yank the price to the vital support at $14.

Toncoin price analysis

Toncoin (TON) snapped back from the 20-day EMA ($1.75) on Sep. 12, indicating that the bulls are viewing the dips as a buying opportunity.

The price reached the first resistance at $1.98 on Sep. 13 where the bears are trying to halt the up-move. A minor advantage in favor of the bulls is that they have not ceded ground to the bears. This suggests that the bulls are in no hurry to book profits as they anticipate the up-move to continue.

If the $1.98 level is taken out, the TON/USDT pair could reach $2.07. This is an important level for the bears to defend because a break above it could propel the pair to $2.40. On the downside, a slide below the 20-day EMA could tilt the advantage in favor of the bears.

Polkadot price analysis

Polkadot (DOT) has been trading below the breakdown level of $4.22 for the past few days, which is a negative sign.

The bulls are trying to start a relief rally but that is likely to face strong selling at $4.22. If the price turns down from the overhead resistance, it will suggest that bears remain in control. The sellers will then try to sink the DOT/USDT pair below $3.90. If they succeed, the pair could collapse to $3.44.

If bulls want to prevent the decline, they will have to push and sustain the price above $4.22. If they do that, it will suggest that the markets have rejected the breakdown. The pair may then attempt a rally to the 50-day SMA ($4.61).

Polygon price analysis

Polygon (MATIC) slipped below the critical support at $0.51 on Sep. 11 but the bears could not maintain the selling pressure. That started a rebound, which is nearing the 20-day EMA ($0.54).

The bears will attempt to stall the recovery at the 20-day EMA and tug the price below $0.50. If they manage to do that, it will signal the resumption of the downtrend. The MATIC/USDT pair could then slump to $0.45.

Although the downsloping moving averages indicate advantage to bears, the positive divergence on the RSI suggests that the bearish momentum may be slowing down. If buyers clear the obstacle at the 20-day EMA, the pair may climb to $0.60.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Brad Garlinghouse Says Ripple Will Get 80% of New Hires From Outside the United States

September 14, 2023 The Daily Hodl

US ‘the only country’ crypto startups should avoid, says Ripple CEO

September 13, 2023 Coin Telegraph

Brad Garlinghouse

Brad Garlinghouse said Singapore, the U.K., the UAE and Switzerland are jurisdictions with “smart” crypto policies he thinks the U.S. should adopt.

The United States is one of — if not the worst — place to launch a cryptocurrency startup in the world right now, according to Ripple CEO Brad Garlinghouse whose firm is in a legal battle with the U.S. securities regulator.

“The only country I would not encourage you to start a company right now is in the U.S.,” Garlinghouse said on a Sept. 12 panel at Token 2049 in Singapore.

The Ripple boss wants the U.S. to take note from the likes of Singapore, the United Kingdom, the United Arab Emirates and Switzerland by enacting policies that encourage crypto innovation while protecting consumers.

*Bloomberg’s Annabelle Droulers (left) moderating a panel with Garlinghouse (center-left), OKX’s Hong Fang (center-right) and BitGo’s Mike Belshe (right). Source: Andrew Fenton/Cointelegraph*

Garlinghouse pointed the blame at the Securities and Exchange Commission claiming its engaging in a political war with the industry with its lawsuits.

That lawsuit strategy isn’t working, said Garlinghouse, and claimed Ripple and Grayscale’s court wins over the SEC may suggest the court’s mood is turning in the industry’s favor.

“I think you're seeing the momentum shift. I think that it used to be that a lot of judges were like: ‘Well the SEC is always right,’ and they weren't fighting that [but] I think you're starting to see the pattern change.”

While the outcomes in Ripple and Grayscale aren’t legally binding, Garlinghouse said the results provide more clarity to crypto exchanges and custody providers operating in the U.S. — at least for now.

OKX president Hong Fang acknowledged the politics at play but stressed for crypto firms to focus on what they can control.

“We can only control what we can control, which is to build the right product and to focus on the technology and to support responsible regulation.”

Despite the U.S. being a big market for Ripple, Garlinghouse said it’s expanding services to countries he claims are more progressive and better understand the potential benefits of blockchain technology.

We might not ready for a spot Bitcoin ETF

During the panel, Fang said he thinks investors may not be ready for custody solutions built around a prospective spot Bitcoin (BTC) exchange-traded fund because much of the new blockchain-based infrastructure hasn’t been battle tested by the masses.

“I think there's a huge implication on custody [...] The question I have on my mind is whether our industry is actually ready for it” he said.

Fang acknowledged a spot Bitcoin ETF will lead to more institutional inflows but isn’t convinced that investors can now stomach Bitcoin’s volatility and second guessed the readiness of continuing to build more applications on top of Bitcoin.

“We are actually creating something that is new, that we can build on top of, a new monetary system that hasn't come to fruition yet,” Fang said. “So I don't know whether we're ready for that yet from an industry infrastructure perspective.”

Magazine: Deposit risk: What do crypto exchanges really do with your money?

Ripple is staring down an opportunity to fix its closed system

September 12, 2023 Coin Telegraph

Coin Telegraph

Ripple Labs built its XRP token on a centralized system. But with legal action against Ripple coming to a close, it could move toward a more open platform.

In July, a United States judge ruled that Ripple Labs’ XRP (XRP) token was not a security when sold to the public on secondary markets. While the Securities and Exchange Commission will contest the decision, the broader cryptocurrency community has embraced it, as crypto trades on exchanges might sidestep the securities transaction label.

Despite the ruling, the crypto market continues to suffer from broader uncertainty. Ripple has long been entrenched in this battle, but this legal victory might serve as a partial emancipation, allowing the company to relight its former flame. This case presents an opportune moment for the company to chart a new course, turning the page from an old chapter to ignite a new era.

Ripple was designed to replace the traditional SWIFT system of cross-border payments. And there were valid reasons to do so, as anyone who has experienced the frustration of paying $45 for an international wire transfer that took four days to reach its intended recipient can attest. Offering an accelerated process, untethered by weekend or holiday delays and free of the exorbitant and unpredictable fees associated with SWIFT transfers, Ripple aimed to build a crypto product closely mirroring the legacy financial ecosystem — a system primed for everyday transactions.

This aim defined its product, leading it to undertake the formidable task of constructing an entire technology stack from scratch. However, this proved to be a herculean task. Beyond the technological challenges, there were various processes and unexpected areas of friction, particularly in operating across numerous jurisdictions. The endeavor likely surpassed Ripple’s initial estimations, forcing it to make adjustments and sacrifices in order to reach its goals.

One of the main compromises Ripple took was to create a more centralized structure, which was fundamentally different from other crypto projects. This decision proved to be a double-edged sword. While this configuration initially facilitated swift and economical transactions, it inadvertently repelled a broader Web3 developer community from participation. This strategic choice curtailed individual engagement, fostering an environment that felt less than inviting.

#XRPCommunity #SECGov v. #Ripple #XRP Counsel for Ripple has informed Judge Torres that Ripple is available for trial anytime in the second quarter of 2024. pic.twitter.com/JoZZlxcJSr
— James K. Filan (@FilanLaw) August 23, 2023

The centralized structure also naturally led to the creation of a closed system, which inherently prevented Ripple from building an indispensable, application-layer foundation. While a closed solution allows Ripple to capture all of its generated value for itself, an open platform creates a system where, as Bill Gates famously said, “the economic value of everybody that uses it exceeds the value of the company that creates it.”

Creating a true ecosystem, which is the alternative, more preferred way that leads to layer-1 blockchain networks, allows a community to flourish, with both individuals and entities deeply vested in the triumph of the protocol. Community members and followers act as a beacon, continually drawing in more participants, ultimately creating a self-fulfilling prophecy for a protocol mission and growth. And while Ripple may now share the generated value of its ecosystem with its community members, it stands to gain greater economic value by obtaining a portion of a substantially larger pie.

Predicting whether such a community would significantly alter the course or dynamics of Ripple’s legal battle remains uncertain. Nevertheless, it’s evident that there are clear advantages on both the business and product fronts when it comes to operating a layer-1 blockchain, a fact substantiated by numerous successful projects.

And it’s not too late in the game to redirect the course, as far as Ripple is concerned. Numerous projects within the Web3 domain embarked on their journeys with greater centralization, gradually morphing into decentralized autonomous organizations that relinquished control to their communities. Notably, Cosmos pioneered an innovative framework, provisioning developers with the groundwork for an interconnected blockchain network that still interfaces with other Cosmos-based platforms. Ethereum today thrives with a burgeoning layer-2 ecosystem — an unforeseen augmentation facilitating swift fund transfers, experimentation, novel app development and rigorous testing.

When startups seek alignment with convention or conservative institutions, regulatory ambiguity proves a deterrent. Presently, Ripple enjoys a modicum of certainty, which is an asset when approaching partnerships with those traditional entities.

With any luck, Ripple’s fire will burn once more, as it provided one of the first approaches to tackling real-world financial problems. What’s more, the movement toward further decentralization has been relatively universal across the entire crypto ecosystem. In any case, the outcome for Ripple will come down to its technology and the ecosystem, which it now has considerably more control over.

Eric Chen is the co-founder and CEO of Injective Labs. Prior to Injective, he was a researcher at Innovating Capital, working on trading strategies and protocol research. Before that, he was a part of the Blockchain Lab at NYU. Eric has worked within the crypto industry since 2017. Eric dropped out of NYU.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Ripple

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