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Singapore’s central bank to develop prototype for cross-border payments

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TikTok Avoids US Shutdown as Oracle, Walmart Swoop In

TikTok will live to see another day in the United States.  President Trump has approved a deal between TikTok owner ByteDance, Oracle and Walmart, which averts the ban that was to take effect on Sept. 20. The ban, which would have prevented all downloads of the app in U.S. app stores, has now been postponed […]

The post TikTok Avoids US Shutdown as Oracle, Walmart Swoop In appeared first on BeInCrypto.

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TikTok will live to see another day in the United States.

President Trump has approved a deal between TikTok owner ByteDance, Oracle and Walmart, which averts the ban that was to take effect on Sept. 20. The ban, which would have prevented all downloads of the app in U.S. app stores, has now been postponed by one week.

In a statement, the  Commerce Department indicated that the restrictions are now slated to come into effect at 11.59 p.m. on Sept. 27. According to a CNN report, the deal maintains ByteDance as TikTok’s majority shareholder, with Oracle and Walmart cumulatively controlling 20 percent of the company.

Ownership and Data Access Issues

According to a Bloomberg report, ByteDance is seeking a $60 billion TikTok Global valuation, with the app’s U.S. operations alone valued at over $50 billion. This would mean that Walmart would pay $4.5 billion for its proposed 7.5 percent stake and Oracle would pay $7.5 billion for its prospective 12.5 percent stake.

The report further reveals that the deal’s final valuation and payment structures have not been agreed on yet because negotiations regarding equity structure and data security are still ongoing. Both Beijing and Washington are yet to fully agree on what parties get access to what part of TikTok’s valuable proprietary technology, such as recommendation algorithms.

According to Bloomberg, Chinese authorities are said to be in favor of the current deal because ByteDance maintains an overwhelming majority stake. This apparently was what gave Oracle the advantage over Microsoft, which offered to buy out TikTok Global in its entirety.

The deal would see Walmart CEO Doug McMillon take a seat on the five-member board of TikTok Global, which controls the app’s activities in the U.S. and around the world, excluding China. According to Bloomberg, VC firms Sequoia Capital and General Atlantic could also build equity positions in the company as part of the deal.

In a statement from TikTok quoted by CNN, the company said:

“We will also maintain and expand TikTok Global’s headquarters in the US, while bringing 25,000 jobs across the country.”

TikTok BanTikTok Ban

TikTok To Migrate From AWS to Oracle Cloud

The deal will also see TikTok move from Amazon Web Services (AWS), its current hosting provider, to Oracle Cloud. In a statement quoted by CNN, Oracle CEO Safra Catz said:

“As a part of this agreement, TikTok will run on the Oracle Cloud and Oracle will become a minority investor in TikTok Global. Oracle will quickly deploy, rapidly scale, and operate TikTok systems in the Oracle Cloud. We are a hundred percent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world. This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders.”

According to CNN sources, Oracle will get full access to TikTok’s source code and app updates in order to ensure that there are no back doors for the Chinese state to harvest data or spy on the app’s 100 million+ American users.

Source: https://beincrypto.com/tiktok-avoids-us-shutdown-as-oracle-walmart-swoop-in/

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Ripple price falls to $0.244, what’s next?

Ripple price follows the market trend to falling to $0.244 low. Analyst expects a drop to $0.21 mark before another rise. Mixed market sentiment and bearish market are main contributing factors. The Ripple price line fell bearish after testing the Exponential Moving Average (EMA) on the 20th of September. The price slipped below the $0.244 […]

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  • Ripple price follows the market trend to falling to $0.244 low.
  • Analyst expects a drop to $0.21 mark before another rise.
  • Mixed market sentiment and bearish market are main contributing factors.

The Ripple price line fell bearish after testing the Exponential Moving Average (EMA) on the 20th of September. The price slipped below the $0.244 mark by the evening. The market is expected to rise, and Ripple price with it.

1-Day Ripple price analysis

The price approached the day’s high of $0.254 US Dollars by noon on the 19th of September. The cryptocurrency traded at $0.24596 US Dollars on Bitstamp, at the time of writing. Whereas, the day’s low was observed at the $0.243 mark.

XRPUSD technical indicators

The Trading View analyst Ronin is of the opinion that the cryptocurrency is currently undergoing a wave trading pattern. Per the crypto analyst, the price will now fall towards the $0.21 level to complete the 5th wave of this trade.

Currently, the cryptocurrency appears to be testing the EMA marked in orange. The technical indicator may cause the cryptocurrency to be pushed back and fall towards the $0.21 support level. Per the chart above, the cryptocurrency’s trade volume has been decreased ever since the start of September.

The Relative Strength Index (RSI) stands near 45.00, which means that the technical indicator is in a neutral zone. The Moving Average Convergence Divergence (MACD) line appears to be moving above the signal line, while the Histogram is decreasing in the positive region.

What’s next for Ripple?

The Trading View analyst Saeed believes that the XRP price will see an uptrend towards the $0.28 resistance, which will then be followed by a price fall towards the $0.21 mark.

Per the analysis, the cryptocurrency trades inside a falling wedge pattern. The XRP price fell below an ascending trend line marked in the chart above. The recent accumulation above the $0.24 level may allow the cryptocurrency to rise towards the ascending trendline. For this ascension, the XRPUSD pair will have to break above the falling wedge pattern and test the rising trend line. The analyst believes that the resistance will be strong enough to cause the cryptocurrency to fall down towards the $0.21 support level.

What to expect from the XRP price?

The Trading View analyst Vince Prince has stated that the XRPUSD trading pair is under an overall bearish bias while it trades inside of an ascending channel.

The cryptocurrency recently made its way towards the back-up-cluster near the lower ascending trendline of the trading channel. Per the analyst, the XRPUSD pair has bounced from this cluster, which means that the cryptocurrency will now make its way across the midpoint of the ascending channel and towards the upper ascending trendline. If the cryptocurrency, at any point, breaks below the ascending channel, the price will fall in the bearish zone. This is why the cluster region is important for XRP to hold.

If Ripple closed above the 400-Day EMA (green), the price will have more room to move towards the upside and test the upper trendline. However, the ascending channel may eventually result in a bear flag for Ripple, which means that the cryptocurrency is still in a bearish bias. For now, the XRPUSD pair is expected to test the higher levels if it holds the $0.248 support.

Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Litecoin price drops to $46.5, what to expect?

Litecoin price analysis unable to sustain the $48 high. Litecoin briefly sees $49 high, losing strong support for $48. Analyst believe, Litecoin price to show a reversal. The Litecoin price line observed price continuation over the $48 mark on the 19th of September. Grevling is a Trading View analyst who believes that the LTC price […]

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  • Litecoin price analysis unable to sustain the $48 high.
  • Litecoin briefly sees $49 high, losing strong support for $48.
  • Analyst believe, Litecoin price to show a reversal.

The Litecoin price line observed price continuation over the $48 mark on the 19th of September. Grevling is a Trading View analyst who believes that the LTC price will soon test the resistance level near $57.

1-Day Litecoin price analysis

Litecoin traded at $46.96 US Dollars at the time of writing on Bitstamp. The cryptocurrency observed the day’s high at $49.01 US Dollars on the 19th of September.

What’s next for Litecoin?

The Trading View analyst Grevling is of the opinion that the LTC price will break above the descending triangle pattern soon. The breakout is expected to lead the cryptocurrency towards the $57 mark.

The cryptocurrency has been trading inside the descending triangle from the 12th of September. Once the LTC price breaks above this descending triangle, it will turn bullish and rise towards the $56.90 resistance level. The crypto analyst believes that the LTCUSD trading pair will test the resistance twice before it can finally break out the third time. This trade is a long-term trade for the cryptocurrency.

A confirmation of the breakout above the $56.90 mark will allow the cryptocurrency to eventually rise towards the $84.73 level.

Will Litecoin observe a double bottom pattern?

The Trading View analyst Utku Yucel believes that the LTC price may depict a double bottom pattern soon. The analyst highlighted the cryptocurrency’s trade inside a triangle pattern on the 1-day chart for the LTCUSD trading pair.

The cryptocurrency approached this triangle pattern in March 2020, while it has been trading closer to the ascending support line (blue) until the price turned bullish in August. The cryptocurrency tested the descending resistance (red) of the triangle pattern on the 17th of August.

Currently, the price has returned to the ascending trendline. The analyst believes that this touchdown of the cryptocurrency at the lower boundary of the trading pattern may complete a double bottom pattern. The double bottom pattern is a bullish sign, and it will lead to a bullish convergence for the LTC price. The price line may bounce off the trend line after completing the double bottom pattern and move towards the descending trendline to observe a breakout.

The analyst suggested traders observe the Exponential Moving Average (EMA) in order to be aware of the cryptocurrency’s trading trend. The Relative Strength Index (RSI) lies in the neutral zone at 42.43 on the 1-day time frame. A breakout above this triangle pattern will leave the cryptocurrency in a bullish state.

What to expect from the LTC price?

The Trading View analyst Harison is of the opinion that Litecoin is currently in the accumulation zone, and that the cryptocurrency is expected to see a significant increase in its price over the long-term trade.

On the 4-hour chart, the analyst drew some nested triangle patterns. The cryptocurrency trades in a triangle pattern, which lies in a bigger ascending triangle pattern. On the 20th of September, the cryptocurrency slipped below the descending triangle. If the price moves below the important support structure between the $46 and $47 levels, then LTC may turn bearish per the chart above. The target price for this trade lies at $56.96.

Disclaimer: The information provided is not a trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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