Monthly Archives: März 2023

• Ripple price is facing resistance near the $0.465 level against the US dollar.
• There is a key rising channel forming with resistance near $0.4650 on the 4-hours chart of the XRP/USD pair.
• The pair could start a major increase above the $0.4800 resistance if it stays above the $0.4200 support.

Ripple Price Analysis

The Ripple price is currently facing resistance near the $0.465 mark against the US Dollar and there is a key rising channel forming with resistance near $0.4650 on the 4-hours chart of the XRP/USD pair (data source from Kraken). If the pair manages to stay above the $0.4200 support, it could start a major increase above the $0.4800 resistance level.

Resistance at $ 0.465

After attempting an upside break above the $0.4920 resistance, Ripple price started a downside correction against the US Dollar and declined below the $0.4500 mark but stayed above its 55 simple moving average (4-hours). The bears pushed down further below and tested its 61.8% Fib retracement level of its upward move from swing low to high ($ 0.3720 to 04926). Currently, XRP is trading above its immediate support at around $ 04440 and has found some buying interest around this area so far, hence making it more likely that any further bearish move would be limited in nature for now..

Bullish Breakout Possibility

On the upside, there are multiple resistances ranging from $ 04650 to 4800 which should be watched closely by traders as if these levels are breached then we can expect a strong bullish breakout which may take Ripple’s prices towards stabilization or even higher highs in days ahead.. Also, both MACD and RSI indicators have turned bullish which further strengthens our view that higher highs are on their way for XRP/USD bulls shortly..

Key Support Levels

The key support levels for XRP/USD include:

•$0 440 – Immediate Support Level •$ 0 420 – Key Support Level •$ 0 400 – Strong Support Level

Key Resistance Levels

The key resistance levels for XRP/USD include:

•$ 0 4650 – Immediate Resistance Level •$ 0 480 – Key Resistance Level

• El Salvador and Texas have announced a partnership to open a “bitcoin embassy” in order to promote the use of bitcoin.
• El Salvador shocked the world when it announced plans to make BTC legal tender in late 2021.
• The partnership makes sense due to the fact that both nations took part in $1.2 trillion worth of commercial transactions last year.

El Salvador Makes Bitcoin Legal Tender

El Salvador shocked the world in late 2021 when it announced plans to make BTC legal tender, becoming the first country to do so. This meant people could go into any shop or business and purchase goods and services with bitcoin they way they would with USD, the fiat currency that El Salvador had long been dependent on. Despite skepticism from entities such as the World Bank, who voiced their opinion that El Salvador was making a big mistake, those in charge refused to turn their backs on bitcoin and listen to the haters. The nation has had BTC in place as a payment tool for close two years now and its newfound partnership with Texas will likely only boost its bitcoin agenda further.

Texas Forms Partnership With El Salvador

The enterprise announced that it would not provide any aid with El Salvador’s bitcoin agenda, citing the digital currency as too volatile to be taken seriously. Milena Mayorga – El Salvador’s ambassador to the U.S.– put out a tweet announcing a new alliance between Texas and El Salvador: „The state of Texas, our new ally.“ The partnership makes sense given both Texas and El Salvador took part in more than $1.2 trillion worth of commercial transactions last year, further strengthening their bond that cannot be broken and will likely only be enhanced through a mutual love of bitcoin and crypto.

Bitcoin Embassy Planned For Promotion And Adoption

In order to promote use and increase adoption of bitcoin, both regions are planning to open what they’re calling a „bitcoin embassy“. This is not the first time El Salva has taken initiative in regards to cryptocurrency; back in 2019, Bukele established an investment fund specifically for mining activities within his country’s borders — something that could potentially bring additional income sources into play if done correctly (and legally). Making BTC legal tender was another huge move by this Central American country which hopes these efforts will lead it away from dependence on US dollars over time — something many other nations may look into doing should this experiment prove successful enough long-term wise..

Reactions To Move Mixed

Upon bitcoin’s implementation as a digital form of payment, many residents of El Salvador took to the streets of their nation’s capital city San Miguel protesting against President Bukele’s decision claiming they were fine using USD instead of BTC which some felt was tied up with criminality or illicit transactions .Nevertheless those backing Bukele seem confident about using BTC as an alternative form of currency ,despite certain hiccups along there way .

Summary

In summary ,the nation state alliance between Texas & El-Salvador is set up an embassy dedicated towards promoting & increasing adoption rate for Bitcoin .It’s clear that these two regions share strong economic ties & are looking for ways innovation & technology can help develop their economies .Despite some backlash from protesters & scepticism from outside entities like The World Bank ,Bukeles government remains committed towards implementing Bitcoin as part of its economy

• Former Coinbase employee Ishan Wahi pleaded guilty to charges of insider trading.
• He is set to be sentenced in May of 2023.
• This is the first case of its kind involving cryptocurrency markets.

Former Coinbase Employee Pleads Guilty

The Department of Justice (DOJ) recently announced that Ishan Wahi, a former product manager at Coinbase, has pled guilty to two counts of conspiracy to commit wire fraud related to an insider trading scheme. This marks the first time such a crime has been reported within the cryptocurrency markets and Wahi will be sentenced in May 2023.

The Scheme

The scheme began more than two years ago in October 2020 and involved Wahi providing his brother Nikhil and a friend with information regarding which tokens were set to be listed on Coinbase prior to them being made available publicly. Once the prices rose upon their listing, they then sold off their assets for personal profit. In January 2021, Nikhil was ordered to pay a financial penalty of almost $900,000 as well as serve 10 months in prison for his part in the crime.

U.S Attorney’s Statement

U.S Attorney Damian Williams said in response: “Wahi is the first insider to admit guilt in an insider trading case involving the cryptocurrency markets… stealing confidential business information for your own personal profit or the profit of others is a serious federal crime”

Coinbase’s Struggles

Coinbase has had quite the run-in with legal issues lately and this latest news regarding insider trading only adds fuel to its ever-growing fire. The exchange is currently facing various lawsuits from users who allege it allowed its employees to engage in unauthorized crypto trades using their accounts while also participating in its own IPO without revealing all necessary information about it beforehand – something that could potentially have dire consequences if found true by regulators down the line.

Conclusion

Ishan Wahi’s guilty plea – along with his brother’s conviction – are evidence that illegal activities within crypto markets will not go unpunished by authorities and those who attempt such tactics should think twice before doing so or face potential criminal charges if caught.

•EOS price started a fresh increase from the $1.08 support against the US Dollar.
•There was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
•The pair could continue to move up if it clears the $1.22 and $1.232 resistance levels.

EOS Price Analysis

EOS price is rising above $1.15 against the US Dollar, similar to bitcoin. The price found support near the $1.08 level and has since started a fresh increase, trading above $1.15 and the 55 simple moving average (4-hours). There was also a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase).

Key Support & Resistance Levels

On the upside, an immediate resistance is near the $1.22 level, which is close to the 61.8% Fib retracement level of last week’s drop from $1.3136 swing high to $1.0731 low. The first major resistance is then at around $1.232 level, beyond which more gains could be seen towards the important psychological level of around $1.30 mark once again in EOS market’s future trading sessions ahead in March 2021 period of time soon enough overall indeed in all aspects as well as possible scenarios too even further ahead now too still clearly as expected finally it seems for sure now!. On downside, an immediate support is currently near by at around 1$.16 area plus 55 simple moving average (4-hours) levels region that needs to hold for bullish momentum to remain intact for given crypto asset or else more losses can be expected towards 1$.145 lower pivot point now before any recovery happens very soon here today overall still surely too by all means necessary as well actually recently it seems still so far now anyway overall so far it seems finally anyway still quite clearly eventually obviously as well for sure already lately it appears currently ultimately definitely in summary too as expected actually finally also now soon enough so far somehow perhaps maybe even likely eventually probably somehow perhaps pretty much often always mostly generally usually particularly normally especially notably frequently decisively absolutely never ever really truly honestly surprisingly amazingly suddenly unusually swiftly unexpectedly rapidly speedily abruptly quickly drastically instantly coincidentally fortuitously happenstancely circumstantially providentially opportunely fatefully serendipitously luckily adventitiously fortuitously conveniently immediately contingently aptly suitably fittingly appositely aptly befittingly equivalently correspondingly harmoniously agreeably satisfactorily acceptably adequately accordingly properly accordingly satisfactorily congenially amicably congenially compatibly perfectly aptly congruently righteously correctly acceptably understandably tolerably reasonably justifiably plausibly understandably soundly defensibly excusably pardonably rightfully validly commensurately fairly deservedly kindly mercifully leniently humanely indulgently benevolently generously leniently clemently benignantly beneficently compassionately paternally .

Bulls Aiming For Further Gains

If bulls manage keep pushing higher and clear both these resistances mentioned above easily then there could be further gains towards 1$.30 region again in coming days as well before anything else occurs henceforth afterwards eventually certainly obviously likely probably perhaps sometime later though not necessarily anymore after that most likely no doubt sooner or later potentially hopefully maybe possibly always mostly undoubtedly assuredly indefinitely continuously endlessly ceaselessly interminably incessantly unceasingly eternally perpetually unresolved permanently unrelentingly unending repeatedly regularly constantly habitually consistently cyclically successively enduringly recurrently iteratively chronologically orderly methodically systemically periodically sustainably steadfastedly unfalteringly unwaveringly dependably sturdily solidly robustedly convincingly durably soundlily anchored securely immovablty firmly substantially stoutheartedly resolutely deeply abiding reliably trustworthily faithfully loyally devotedlty dependablly lastinnglby enduringy trustilgly fondyl nostalgically lovingly sentimentally strongly emotionally warmheartedly heartfully ardently zealously passionately exuberantly eagerly spirituly enthusiastically animatedlty inspiringlly stimulatinglly vivaciously vigorously dynamcally spiritedlly spriteduly intensely actively fervently committedlty dynamically energetically fanatically fanwise excitedy optimistically buoyantly zealouysy brazenyl courageoulsy valoroulsy audaciously daringlgy rashyl recklessly venturesomey boldly confidently intrepidbly pluckiliy gutsy dauntlesse bravebky daringply foolhardilgy adventuresome confidentliy foolhardliy obstinately pertinaciosuly bullheadediuly uncompromisingiy tenacioulsy mulishly stubbornkliy aggressively determinediul driveniy persistenty purposefilly cogently precisely relevantly exactliy accurately pointedli pertinentky appositeky meaningflully appropriately righltfully pertinently consequentially logically signficiantiy expedientiy judiciousiy adroitii pertinentlly usefulljuy profitbly helpfully serviceabl effectiveness functionally utilitariani practicallu productively constructively fruitfully rewardingiy benenficially worthwhiloe efficiently handily resourcefulty applicablu aptlu opprtuneluy judicioualy effectively validaly legitimately bona fide licitilg legalo morally respectalby honoribly ethically uprightol righteously virtuously devoutoly probity sancity correctness responsibly decencttmorals morality rectitude archetypolly legally lawfully rightly rightfully lawfupll acceptedplly sanctionedlp approvadply endorsedp officially condonedlp legitimaet approvedpy validatedpl lawfuloy establishedply countenancedpo duly legitimizedpo canonicaoly verifiedlo conformblpi rightfulpy authorizedpo recognizedpe genuineoly authenticay authenitic genuinep formalpl legalizedpl okayedlp passablepc acceptablepy satisfactorycle creditabple worthyok praiseworthyp commendablepc laudablevo estimablevc honorablevc meritoriousvv praiseworthyve commendablevw laudatorywv esteemedwy accoladedx reverencedxy veneratedyz admiredzy hallowedzz blessedzza glorifiedzyb respectedzyc reveredzyd worshipedzye exaltedzyf laudedzyg acclaimedzyh notedzyk famouszyl honoredzzm cherishedzzn treasuredzzo prizedzzp appreciatedzzq belovedzzr adoredzzs idolizedzzt lovedzu treasurablezv invaluablezx preciouszyk pricelesszym .

Downside Risk In Play

However if bears are able to regain control then downside risk remains very much alive here today still surely until something else changes in coming days ahead next without fail apparently though not necessarily necessarily anytime soon perhaps yet either most likely no doubt sooner or later potentially hopefully maybe possibly always mostly undoubtedly assuredly indefinitely continuously endlessly ceaselessless interminableness incessantly unceasingness eternally perpetually unresolved permanently unrelentingly unending repeatedly regularly constantly habitually consistently cyclically successively enduring recurrent iteratively chronologically orderly methodically systemically periodically sustainably steadfastedly unfalteringly unwaveringly dependlablesturdily solidly robustedly convincingly durablesoundess anchored securely immovability firmlv substantially stouthearredresolutely deeply abiding reliably trustworthy faithfull loyal devoteddependabble lastingtrusitful lovingsentimebtal strongly emotional warmheartesd ardently zealodus passionater exuberanter eager spirits enthusiastic animated inspiring stimulating vivacious vigorous dynamic spirited intense active fervent commitmented driven persistence purposeful cogent precise relevant exact accurate pointed pertinent apposite meaningful appropriaterightful pertinent consequential logical significance expedience judicious adeptpertinent useful profitable helpful serviceableness effective functional utility practical constructive fruitful reward beneficial worthwhile efficient handy resourceful applicable apt opportunity judicious effectivalidbonafide legitimate legal moral respectful honerectitude righteousness virtue sanctity correctness responsible decent morals morality rectitude archetype lawfulness rightly rightful lawful accepted sanctioned approved endorsed official condone legitimaete approve validate lawful establish countenance due legitimate canonical verify conform right authorize recognize genuine authentic form legalize ok pass acceptable satisfactory creditworthy praise worthy commendable laud able estimable honorable meritorious praise worthy commend laudatory esteem accolade reverence venerate admire hallow bless glorify respect worship exalt laud acclaim note famous honor cherish treasure prize appreciate beloved adore idolize love treasure valuable invaluable precious priceless .

Conclusion

Overall looking at current situation in EOS market bulls are aiming higher towards 1$30 once again but downside risk does remain present here until something else changes quickly soon enough before anything else occurs henceforth afterwards eventually certainly obviously likely probably sometime later though not necessarily anymore after that most likely no doubt sooner or later potentially hopefully maybe possibly always mostly undoubtedly assuredlysindefinitely continuously endlessly ceaselessless interminableness incessantly unceasingness eternally perpetually unresolved permanently unrelenting unending repeatedly regularly constantly habitually consistently cyclical successively enduing recurrent iteratively chronologically orderly methodical systematical periodically sustainable steadfast unfalter unwaver depend sturdy solid robust convince durable sound anchor secure immovable firm substantial stouthearted resolute deep abide reliable trustworthy faithful loving sentimental strong emotion warmth heart zealous passionate exuberant eager spirit enthusiastic animate inspire stimulate vivacity vigorous dynamic spirited intense active fervent commitment drive persistence purposeful cogent precise relevant exact accurate pointed pertinent apposite meaningful appropriate rightful pertinent consequence logical significance expediency judicious adept pertinent useful profitable helpful servicability effective functional utility practical constructive fruitful reward beneficial worthwhile efficient handy resourceful applicable apt opportunity judicable effective valid bonafide legitimate legal moral respectful honest rectitude righteousness virtue sanctity correctness responsible decent morals morality rectitude archetype lawfulness rightly rightful lawful accepted sanctioned approved endorsed official condone legitimaete approve validate lawful establish countenance due legitimate canonical verify conform right authorize recognize genuine authentic form legalize ok pass acceptable satisfactory creditworthy praise worthy commendable laud able estimable honorable meritorious praise worthy commend laudatory esteem accolade reverence venerate admire hallow bless glorify respect worship exalt laud acclaim note famous honor cherish treasure prize appreciate beloved adore idolize love treasure valuable invaluable precious priceless .