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Ripple Price Prediction: XRP/USD Faces a Crucial Support after Touching $0.195 Resistance Level

XRP Price Analysis – June 13 Ripple price is facing an increase in selling pressure below the $0.228 resistance against the US dollar. XRP/USD Market […]

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XRP Price Analysis – June 13

Ripple price is facing an increase in selling pressure below the $0.228 resistance against the US dollar.

XRP/USD Market

Key Levels:

Resistance levels: $0.210, $0.220, $0.230

Support levels: $0.170, $0.160, $0.150

XRPUSD – Daily Chart

Ripple price is slowly declining below key supports against USD. XRP/USD price might revisit the $0.180 support before it could start a fresh increase. After struggling to stay above $0.190, Ripple started a slow and steady decline. The coin is trading below the key $0.195 support level to move into a short term bearish zone.

In addition, XRP/USD is currently changing hands at $0.192 and any attempt to make it cross below the lower boundary of the channel may open the doors for more downsides and the price could spike below the $0.180 support level.  However, for the uptrend, traders should keep an eye on this level before creating a new bullish trend at the resistance levels of $0.210, $0.220, and $0.230.

However, the market may experience a quick buy once the trade reaches the support at $0.180. And should the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunity for traders, which might cause the price to reach $0.170 and could further drop to $0.160 and $0.150 support levels respectively. The RSI (14) nosedive to level 40. If the price moves downward, XRP may fall further.

When compared with Bitcoin, XRP is currently trading at 3029 SAT and it’s trading under the 21-day moving average. If the above-mentioned level could serve as market support, the price can be pushed up towards the resistance level of the 2100 SAT. By reaching this level, the price may likely visit 2200 SAT and 2300 SAT resistance levels.

XRPBTC – Daily Chart

However, if the bulls fail to push the price to the nearest resistance, the market may begin a downtrend and the pair could probably record further declines at 2000 SAT. Breaking this level could push the market to the nearest support levels, at 1850 SAT and below. Meanwhile, the RSI (14) is moving around 35-level, which may possibly give some bearish signals in the nearest term.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Source: https://insidebitcoins.com/news/ripple-price-prediction-xrp-usd-faces-a-crucial-support-after-touching-0-195-resistance-level

Blockchain

Crypto.com Integrates PayID Offering 5M Users an Easy and Unique Way to Send & Receive Crypto

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[PRESS RELEASE]

HONG KONG, October 19, 2020 — Crypto.com today announced PayID, a universal payment identity developed by the Open Payments Coalition, is now available on the Crypto.com App.

Crypto.com’s 5M+ users can register for a PayID from the Crypto.com app, consolidating complex wallet addresses and accounts into a simple ID that works across any payment network and currency. Users who register for their unique PayID will get an exclusive Crypto.com-branded, easy-to-read ID — such as “yourname$payid.crypto.com — that enables users to send/receive crypto payments from other compatible wallets with just a single ID, easing their ability to connect to 100M+ crypto users worldwide.

cryptocom_PR

PayID solves a key pain point in the crypto payments world, which consists of many closed and complex networks. Participants must manage multiple long and random wallet addresses, increasing the likelihood of erroneous transactions. PayID creates a free, open and common protocol that allows for interoperability between any payment network or currency.

Starting today, Crypto.com is offering early access for select customers to register their unique Crypto.com PayID. To be eligible:

  • Stake 10,000 CRO or more in Crypto.com Exchange; or
  • Stake 10,000 CRO or more in Crypto.com App

On 2 November 2020 all Crypto.com App users can register their own Crypto.com PayID within the Crypto.com App.

Once registered, users can send crypto from other compatible wallets to the Crypto.com App with just their PayID, instead of a full-length crypto address. At launch, supported cryptocurrencies include CRO, ETH, BTC, XRP and many more ERC20 tokens. Users can also send crypto to other compatible wallets using PayID hosted by other members in the Open Payments Coalition.

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Card, the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 600+ strong team. Find out more by visiting https://crypto.com

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Source: https://cryptopotato.com/crypto-com-integrates-payid-offering-5m-users-an-easy-and-unique-way-to-send-receive-crypto/

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Blockchain

Crypto More Popular Than Gold Among Russian Investors: Report

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A survey among over 2,000 Russian investors has placed cryptocurrency next to gold in terms of popularity. Moreover, younger investors aged below 30 have displayed significant favoritism towards digital assets.

Crypto Ranks Above Gold Among Russian Investors

According to the study published by the World Gold Council, investors from the world’s largest country by landmass have allocated the most funds into generally accepted as safer instruments such as savings accounts, foreign currencies, real estate, and life insurance.

When asked what sorts of investment tools they had invested in the past 12 months, they placed cryptocurrencies as the fifth most popular asset with 17%. Interestingly, gold came next with 16%.

Investments Made In Russia 12 Months Back. Source: World Gold Council
Investments Made In Russia 12 Months Back. Source: World Gold Council

World Gold Council Director of Central Banks and Public Policy, Dr. Tatiana Fic, commented that gold had been a valuable part of Russia’s history. She explained that the development of the gold mining industry began in 1745 with the discovery of gold in the Urals. In the next 100 years, more than half of the global gold production came from Siberia.

However, she noted that the investment market has declined in interest lately. Dr. Fic reasoned that there’s an evident lack of education, resulting in people steering clear from the bullion. She also claimed that investors fear buying fake or counterfeit gold products.

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It’s worth noting that Russia seized purchasing gold earlier this year following half of decade of increased accumulation.

Younger Generations Keen To Experiment With Crypto

WGC’s report confirmed previous narratives that younger generations prefer allocating funds into riskier investment instruments such as digital assets.

“18-to-24-year-olds are much more willing to take risks to get exponential growth, rather than take a long-term view. For example, they are the least likely to have invested in a savings account but are the most likely to have invested in collectibles – and around two-thirds are considering investing in cryptocurrencies.” – the report reads.

The paper highlighted that the growing role of mobile apps linked to investment accounts have made it easier for tech-savvy youth to purchase their preferred assets. Cryptocurrencies lead the way “with nearly 80% being bought exclusively online.”

Although physical gold has been bought mostly offline, the report noted that online investments in gold-backed ETFs and vaulted gold have jumped in the past few years as well.

Investment Assets Purchases In Russia. Source: WorldGoldCouncil
Investment Assets Purchases In Russia. Source: WorldGoldCouncil
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Source: https://cryptopotato.com/crypto-more-popular-than-gold-among-russian-investors-report/

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Swiss Government Starts Discussions on Local Blockchain Regulations

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A new consultation process on blockchain laws is set to begin in Switzerland. Initiated by the country’s Federal Department of Finance, the operation is focused on initiating a blanket ordinance in the local blockchain and distributed ledger technology environment.

For Better Laws In Blockchain Industry

A number of parties, individuals, and other interested groups are set to be included in the upcoming consultations in the blockchain spectrum. The project is planned to go on for three months, ending on February 2 next year.

As per a recent report by Switzerland’s Federal Department of Finance, the blanket ordinance is set to help legislative amendments, recently voted by Parliament, turn into law at the federal ordinance level. The grand plan is that the Federal Council will bring amendments to the acts and ordinates into force on August 1, 2021.

The news appears a month after the Swiss Parliament unanimously adopted a Federal Act on the Adaptation of Federal Law do Developments in Distributed Ledger Technology (DLT). With it, the government amended several active finance and corporate laws, re-shaping them with additions in favor of blockchain technology and DLT.

According to the report, the act has improved the framework conditions for the country to turn into a significant, innovative, and sustainable place for blockchain and DLT firms to settle.

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A Further Leap Into The Crypto Means Of Payment

The recent news comes shortly after the Swiss government announced that soon cryptocurrency would be operable for tax payments. As CryptoPotato recently reported, Bitcoin and Ethereum will become acceptable assets for the purpose, as Zug, a canton in Switzerland, announced its partnership with cryptocurrency broker Bitcoin Suisse. Both sides declared their readiness to realize the acceptance of cryptocurrency for tax payments, starting from February 2021. 

Individuals using the crypto option for tax payments would be able to notify authorities and, thereafter, get a QR code through email.

According to the announcement, Bitcoin Suisse will assist in converting crypto to francs, this way avoiding state incurring losses due to price volatility.

The option will give taxpayers, both individuals, and companies the opportunity to pay their taxes with cryptocurrency up to about CHF 100,000 ($110,000).

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Source: https://cryptopotato.com/swiss-government-starts-discussions-on-local-blockchain-regulations/

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