Ripple Price Analysis: XRP Could Rally Significantly Above $0.3850

Ripple price climbed higher this past week towards the $0.3800 resistance area against the US dollar.
The price traded as high as $0.3850 and recently corrected lower below $0.3700.
There is a crucial bullish trend line in place with support at $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Poloniex).
The price is likely to surge higher once it clears the $0.3800 and $0.3850 resistance levels.

Ripple price is consolidating above the $0.3500 support area against the US Dollar. XRP might start a significant upward move towards $0.4000 once it clears the $0.3850 resistance.

Ripple Price Analysis

This past week, there was a short term downside correction in bitcoin, Ethereum, bitcoin cash, ADA and ripple against the US Dollar. Earlier, the XRP/USD pair started a solid upward move and climbed higher from the $0.3000 support area. It broke the $0.3250 and $0.3280 resistance levels to move into a positive zone. Finally, buyers gained control and pushed the price above the $0.3550 and $0.3620 resistance levels. The price rallied towards the $0.3800 level and settled above the 55 simple moving average (4-hours).

Later, there was a downside correction, but the price found support near $0.3280. There was a fresh rally and the price traded to a new yearly high at $0.3850. However, the price failed to stay above the $0.3800 level and recently corrected below $0.3700. There was even a break below the 50% Fib retracement level of the last wave from the $0.3249 low to $0.3850 high.

To the downside, there is a strong support formed near $0.3500. The recent drop was protected by the 61.8% Fib retracement level of the last wave from the $0.3249 low to $0.3850 high. There is also a crucial bullish trend line in place with support at $0.3480 on the 4-hours chart of the XRP/USD pair. The pair is currently trading with a positive bias below the $0.3800 resistance area. Buyers need to clear the $0.3800 and $0.3850 resistances for more upsides in the near term.

Looking at the chart, ripple price seems to be setting up for the next significant break either above $0.3800 or below $0.3500. To the upside, a clear break above the $0.3850 is likely to push the price towards the $0.4000 level. The next key resistance above $0.4000 is near $0.4120. Conversely, a downside break below $0.3500 might push the price back towards $0.3280.

Technical indicators

4 hours MACD – The MACD for XRP/USD is currently flat in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed nicely above the 50 level.

Key Support Levels – $0.3600, $0.3550 and $0.3500.

Key Resistance Levels – $0.3800 and $0.3850.

Tags: Ripple, XRP

Published at Mon, 08 Apr 2019 08:08:12 +0000

October 31, 2017

TokenFunder Wins Approval to First OSC Regulated ICO Launch

In Canada, steps are being taken to bring Initial Coin Offerings (ICOs) within the regulatory framework. TokenFunder, a Toronto-based startup that helps other startups launch and manage ICOs, is the first company to win approval for an ICO by the Ontario Securities Commission (OSC).

While some ICOs have come under regulatory scrutiny lately, TokenFunder CEO Alan Wunsche believes that ICOs can be done right, with built-in safeguards to avoid fraud.

Wunsche said in a press release issued to bitcoin Magazine:

“TokenFunder has been working with the Ontario Securities Commission’s LaunchPad for the past year to define an innovative funding model for businesses. Our offering will give investors the comfort of knowing that they are purchasing a security that can stand up to the scrutiny of regulation.”

TokenFunder ICO Launches November 1

The OSC decision allows TokenFunder Inc. to launch their ICO November 1, selling FNDR tokens to retail investors who can then launch their own ICOs on TokenFunder’s platform which is being built on the Ethereum blockchain.

TokenFunder was given “relief” for a year from current regulations covering investors. This includes an exemption from registering as an investor and an exemption from a limit to the amount that can be raised in one offering.

Wunsche notes that many firms using ICOs to raise investment funding are not able to verify where the funds are coming from making it risky to raise money this way. He believes that there is a safe way to use ICOs and is offering the expertise to provide investor protection within a sound regulatory framework.

Like many jurisdictions around the world, the Ontario government is looking for ways to regulate ICOs without stifling innovation and driving startups to other jurisdictions.

To date, some startups are holding ICOs without regulatory approval saying that their tokens or coins are not securities.

What TokenFunder Is Selling

TokenFunder offers an ICO process that they claim will build trust in digital finance through the use of best practices, including smart contracts to build in legal compliance and regulatory compliance to ensure that investor’s rights are protected.

TokenFunder offers token launch advisory services and is designed to operate within applicable securities laws and de-risk offerings and purchases of coins for both issuers and purchasers by providing, among other things, a regulatory approved platform and related support.

TokenFunder co-founder Laura Pratt said in a press release:

“A unique feature of our FNDR token is that it lets investors share in the future success of the platform. TokenFunder has innovative KYC and AML compliance safeguards, which investors don’t receive with unregulated ICOs. After the completion of our ITO, our vision is to enable other companies to launch ITO’s using our platform. It is a myth that regulation is in the way… it’s the right way.”

LaunchPad Regulatory Sandbox

TokenFunder is a graduate of the OSC’s regulatory sandbox, part of the Canadian Securities Commission network of sandbox initiatives.

LaunchPad is the Ontario sandbox with largely provincial jurisdiction but is also part of the federal securities experimental program. Its goal is to help new fintech startups work outside the current regulatory system and navigate a financial terrain that is largely based on traditional systems that may not work for new cryptocurrency and blockchain startups.

The Blockchain Association of Canada (BAC) has been lobbying the province’s finance minister and others for more appropriate regulations for the new digital age.

Executive Director Kyle Kemper, on behalf of the BAC told bitcoin Magazine:

“This is a first step in building a common understanding between all stakeholders around the potential, risks and opportunities of the token economy.

“This ruling demonstrates that the OSC is adapting to a changing landscape and recognizes the need to support entrepreneurs leveraging blockchain technology. The Blockchain Association of Canada looks forward to assisting in developing a regulatory environment that supports continued innovation. The BAC congratulates the TokenFunder team for achieving this impressive milestone.”

The post TokenFunder Wins Approval to First OSC Regulated ICO Launch appeared first on Bitcoin Magazine.