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Buy signal appears on the XRP charts: is this the sign of a breakout?

With price above a crucial moving average, the question is if XRP buyers can…

The post Buy signal appears on the XRP charts: is this the sign of a breakout? appeared first on Coin Journal.



With price above a crucial moving average, the question is if XRP buyers can help move out fourth-ranked cryptocurrency out of its sideways range

On Monday, XRP posted a marginal 1% gain to close at $0.1922 on the daily charts. The gains were an attempt by buyers to restrain sellers who pushed the cryptocurrency below the $0.190 level following last weekend’s retracement.

XRP’s selling pressure has squeezed buyers and price into sideways ranging. For a while, bulls have relied on support at $0.200, but an onslaught by sellers has meant the area is vulnerable.

Yesterday’s local low of $0.182 threatened to give impetus to the bears, who also capped gains at a local maximum of $0.193.

Today, however, buyers appear intent on halting further decline, and are likely to attempt to break out of the sideways ranging. XRP has traded above the top of the downward channel and a break above $0.195 could see it continue to the psychological $0.20.

Can XRP break free of the bears?

A look at the 4-hour chart shows us that XRP is consolidating above $0.1870, with a breach of immediate resistance at the 0.618% Fibo of $0.1933 and 0.5% Fibo at $0.1974.

A break below will confirm the continuation of the long-term bearish trend and open up a decline to lows of $0.1580 located at the 1.618% Fibonacci retracement on the downward channel.

Positively though, there is a bullish divergence forming as indicated by the upward-pointing RSI. The possibility of prices correcting higher is likely to lead to a retest of recent highs at $0.21 on June 1.

Buy signals for the XRP/USD and XRP/BTC have appeared on the daily and weekly charts, suggesting an extended upside move is possible. According to the TD Sequential indicator, a reversal is likely before a push by the bulls sends XRP out of the range.

The indicator is flashing “9” on both timeframes, which is a signal to buyers that any dips are likely to be followed by a massive breakout short term.

But that will only be relevant if prices hold above $0.1878 on the retracement level.

XRP/USD daily chart. Source: TradingView

As of press, XRP price has crossed above the divergence exponential moving average (DEMA) after surging more than 4.8% in the past 24 hours.

Looking at the 4-hour charts, XRP/USD will confirm an uptrend is on the cards if the price continues above the DEMA at $0.1910. However, if the buyers fail to push the bears out, a breakout below the average would confirm Ripple’s recent downtrend remains in place.

Traders are thus likely to be keen on which direction the price takes, as crossing above the average is signalling a trend change for the XRP market.

The XRP/USD pair is exchanging hands at $0.1914 at press time.

The post Buy signal appears on the XRP charts: is this the sign of a breakout? appeared first on Coin Journal.



Huawei’s New Phone Mate40 Will Have a Wallet For China’s Digital Currency



Multinational technological giant Huawei announced today that its newly-launched smartphone has a built-in wallet that will allow users to store, send, and receive China’s national digital currency.

Announcing the features of the Mate40 series in a Weibo post, the company said that the device is the first smartphone that supports the digital yuan via a hardware wallet.

The Chinese giant said in the post that users would enjoy hardware-level security while being able to control and protect their anonymity. Users can also conduct dual transactions using the new device, meaning they can also send and receive payments offline.

According to Huawei, the device guarantees a new safe and convenient payment experience for users.
To celebrate the launch of the smartphone, the company said it is giving out a free Mate40 Pro to the Weibo user who shares the post the most until November 6, 2020.

Huawei Partners China’s Central Bank

Huawei has been an active player in the blockchain industry, and the company continues to develop its blockchain capacities.

In November 2019, Huawei signed a strategic partnership with the digital currency research unit of the People’s Bank of China. After conducting a massive airdrop for the digital yuan last month, the country is now close to fully launching the new currency.

Samsung Leads Blockchain Smartphones

Meanwhile, Huawei is not the only company exploring new generation blockchain smartphones with built-in crypto wallets. The likes of LG and crypto exchange Houbi have also ventured into the blockchain smartphone market, with Samsung taking the lead.

Samsung released its first crypto-friendly phone in 2019, which provided support for BTC, ETH, and ERC-20 tokens. Since then, the South Korean multinational electronics mogul has been expanding its phones’ interaction with cryptocurrency and blockchain services.

In May, the company partnered with US-based crypto exchange Gemini to allow users to connect to the Gemini mobile app without having to log in again. In July, Samsung added Stellar and Decentraland to its Blockchain Keystore wallet.


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UK Citizen Allegedly Used Bitcoin to Facilitate ISIS Members Prison Breaks



A 27-year old British citizen had appeared before a local court because of allegations that he had used Bitcoin to send money to help ISIS members escape Syrian prison camps. The man, Hisham Chaudhary, has reportedly been a member of the Islamic State for over four years.

Terrorist Prison Breaks Funded By Bitcoin

According to the Dailymail coverage, Chaudhary has been an accepted member of the Islamic State since early 2016 – an infamous terrorist organization banned under UK law since 2014.

Some of his responsibilities within the group included gathering and transferring funds abroad to assist captured ISIS militants to escape from prison camps in northern Syria, controlled by the Kurds. Chaudhary’s preferable currency was Bitcoin. He acquired and sent an undisclosed amount of BTC to facilitate the transactions and remain hidden from authorities.

The charges against the 27-year-old also include compiling and disseminating a terrorist publication called The Wholesome Fruit In The Virtues And Etiquettes Of Jihad last year.

In total, Chaudhary faces seven charges. Four of them are against the terrorist publication, one for his association with the organization, and two counts of entering a funding arrangement. However, he hadn’t plea to the charges during his video appearance at Westminster Magistrates’ Court.

Crypto Connections With Terrorist Group Rise

Bitcoin’s involvement with terrorist organizations has been spiking in the past few months. Reports surfaced in early August that the US Department of Justice (DOJ) had seized over 300 cryptocurrency accounts linked or operated by three notorious groups – al-Qaeda, Hamas, and again – ISIS.

US law enforcement agencies followed the funds to the accounts on the Bitcoin blockchain, as everything is recorded on the network. They saw millions of dollars worth of transfers from fundraising campaigns and anonymous donation ending in the wallets.

Acting US Attorney Michael Sherwin commented that “these individuals believe they operated anonymously in the digital space, but we have the skill and resolve to find, fix, and prosecute these actors under the full extent of the law.”

Additionally, French authorities arrested 29 people allegedly operating a sophisticated network of funding jihadists and al-Qaeda members with digital assets. The police found evidence that the accused purchased cryptocurrency coupons in France. They transferred the details by secure messaging to jihadists in Syria, who retrieved the funds through digital asset platforms.


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Timing Tops & Bottoms In Bitcoin: Data Suggests New Peak Is Less Than A Year Away



Bitcoin, although a powerful and disruptive financial technology, at its core, is mere mathematics. Its code is what keeps the network operating, its supply hard-capped at 21 million BTC, and much more.

But could that computer code and supply mechanism also help provide clues to when the crypto market tops and bottoms? According to a strange correlation with the asset’s block reward halving and the timing of tops and bottoms, the solution could be nothing more than simple addition and subtraction.

Adding Up All The Reasons The Bitcoin Bull Run Is Here

All signs point to Bitcoin breaking into a new bull market after bottoming now nearly two full years ago. A higher low set this year on Black Thursday during one of the worst selloffs the young asset has ever seen was one half of the equation in confirming a new uptrend.

The other half of the puzzle is a higher high, which Bitcoin this week came just dollars away from setting.

Related Reading | Bitcoin RSI Moves Into Bull Market Territory, Here’s What Happens Next

The cryptocurrency is now trading a few hundred dollars away and declining, however, another higher high this year post-election, or at the start of 2021 is still very likely.

Bitcoin for the first time this week since 2019 entered bull market territory on the weekly RSI – yet another signal that its clear skies again for the crypto asset once it cracks $14,000.

bitcoin tops and bottoms

Could crypto tops and bottoms be related to the halving also? | Source: BLX on

Can Math Plus The Halving Subtract The Stress Out Of Timing Crypto Market Tops and Bottoms?

Bitcoin’s bottom is now two years behind us, and even the halving is now in the past. All the necessary ingredients are here for the perfect storm bull market for cryptocurrencies.

But the time distance between those two important events could provide a solution to predicting when the next peak in Bitcoin arrives.

Timing tops and bottoms isn’t easy and should be avoided at all costs. But once the bottom is in, there is a chance of perfectly timing the top, according to one crypto analyst’s striking discovery.

Related Reading | Bloomberg Intelligence Strategist Hints At Bitcoin Bull Run In 2021

They have found that the distance between each Bitcoin bottom and the block reward halving, just so happens to have been nearly the exact distance from the halving to the top (pictured above).

Other crypto analysts fact-checked the data and found it to be within 2% accuracy, suggesting there is possibly credence to the analyst’s speculative conclusion.

If they are correct, that puts the next Bitcoin peak at roughly eleven months away, on October 4, 2021.

Featured image from Deposit Photos, Chart from


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