Ripple (XRP) Price Could Bleed Despite Bitcoin Price Surge

Ripple price remained in a bearish zone and failed to recover above $0.2980 against the US dollar.
The price is currently trading near the $0.2910 support and remains at a risk of more losses.
This week’s highlighted bearish trend line is still intact with resistance near $0.2950 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair is currently under pressure and it could spike below the $0.2900 support before a fresh increase.

Ripple price is struggling to start a rebound against the US Dollar and declined versus bitcoin. XRP must break the $0.2950 and $0.2980 resistance levels to start a strong upward move.

Ripple Price Analysis

Recently, there was an upward move from the $0.2910 support area in ripple price against the US Dollar. The XRP/USD pair traded above the $0.2950 and $0.2960 resistance levels. The price even tested the $0.3000 level, but it failed to retain gains. As a result, there was a fresh decline below the $0.2980 level and the 100 hourly simple moving average. There was a clear failed attempt near $0.3000 and the price is currently trading well below the $0.2950 level.

It traded to a new weekly low at $0.2901 and it remains at a risk of more losses. Recently, there were a couple of swing moves above the 23.6% Fib retracement level of the last drop from the $0.2996 high to $0.2901 low. However, the broken support near the $0.2950 level acted as a resistance. Besides, the 50% Fib retracement level of the last drop from the $0.2996 high to $0.2901 low capped the upward move. More importantly, this week’s highlighted bearish trend line is still intact with resistance near $0.2950 on the hourly chart of the XRP/USD pair.

Therefore, there is a strong resistance formed near the $0.2950 and $0.2960 levels. The next resistance is near the $0.2980 level and the 100 hourly SMA. A successful close above the $0.2980 and $0.3000 levels is must for the bulls to gain traction. Above $0.3000, the main resistance is near the $0.3080 level.

Looking at the chart, ripple price is clearly struggling to gain traction above $0.3000 despite strong bullish moves in bitcoin above $6,200. Therefore, there is a risk of more losses below the $0.2910 and $0.2900 support levels in the near term. The next important support for the bulls could be $0.2850 (the previous swing low).

Technical Indicators

Hourly MACD – The MACD for XRP/USD is about to move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well below the 50 level, with a bearish bias.

Major Support Levels – $0.2910, $0.2900 and $0.2850.

Major Resistance Levels – $0.2950, $0.2980 and $0.3000.

Published at Fri, 10 May 2019 04:08:11 +0000

November 1, 2017

Paycent – The Easiest Way to Connect Crypto and Fiat

Holding cryptocurrency is all very well, but these days it hardly seems to be used to pay for anything. Merchant uptake is slower than the momentum needed to reach the mainstream. The merchants still take cash, but transferring between the two is an extra step that we could do without. Paycent may just be the crypto-fiat bridge we are looking for, with a whole host of other benefits too.

[Note: This is a sponsored article.]

What is Paycent?

Paycent is, in essence, a mobile payment system. It functions as a dual e-wallet which can be funded by both cryptocurrencies and fiat within the same app. It also allows conversion from crypto to fiat and vice-versa, in real time and from within the wallet, acting as an internal exchange.

Over a thousand online merchants and counting already accept Paycent as a method of payment. However, the option of having a debit card linked to your wallet opens up 36 million points of sale in over 200 countries. This includes withdrawing local currency from ATMs worldwide.

[youtube https://www.youtube.com/watch?v=n7fET7C32Y4?feature=oembed&w=500&h=281]

How is Paycent different?

Paycent already has an established fiat network and is collaborating with mainstream financial institutions and governmental regulators, to both expand this network and push into the world of cryptocurrencies.

They already have regulatory licenses in UAE and the Philippines, along with approval in principal in Hong Kong and Singapore. Negotiations are also underway to host the Paycent Realtime Exchange in Dubai, with the oversight of the Central Bank of UAE.

In addition to this, Paycent is in tier 2 talks to acquire a physical banking presence in the Philippines. Paycent would function as the online channel for the bank, providing financial services to the unbanked.

They are also in advanced talks with Egypt and Jordan to develop and host a unified digital payment infrastructure for their banking and government services.

Why should I invest?

Investors in the ICO starting on November 2nd will receive PYN tokens. Holders of these tokens will receive rewards paid in ETH. These rewards will initially be paid quarterly and are as follows:

33% of the aggregate exchange rate profit for crypto to fiat and fiat to crypto, converted using the Paycent dual e-wallet.
33% of the total interest profit on microloans to Paycent lenders.

Users of the Paycent Debit Card will also receive an additional 0.1% of each spend in PYN tokens. Investors of 100 or 500 ETH or more are eligible for special debit cards which increase these loyalty rewards to 0.5% and 1% of each spend.

These ‘cash-back’ reward tokens will create a secondary distribution of PYN tokens, creating an open market for PYN, with price support and increase.

#Paycent Token Sale is getting nearer and we want you to be informed! These are the recommended wallets:#Paycentos #PaycentICO #BTC #ETH pic.twitter.com/Q6ZTJtco0O

— Paycent (@PaycentGlobal) October 26, 2017

https://platform.twitter.com/widgets.js

How can I invest?

Paycent already concluded their pre-ICO, reaching the hard cap of 22,500 ETH in 10 days. Around 857 contributors took part from over 41 countries.

The main ICO is being held in 8 separate phases over the course of four years. There is a minimum investment purchase of 15 PYN and investors can participate using Ethereum, bitcoin, or Litecoin.

The first phase of the ICO begins on November 2, 2017, at 9 am Singapore time (UTC+8) and will last for 7 days or until the Phase 1 hard cap of 30 million PYN has been reached.

Bonus incentives are being given to encourage participation:

First 24 hours: 27% bonus PYN
Days 2 – 4: 18% bonus PYN
Days 5 – 7: 12% bonus PYN

Subsequent ICO phases are scheduled as shown below, with existing token holders receiving generous bonuses:

Phase 2 (Last week of May 2018)
Hard cap: 35 million PYN
25% bonus to PYN token holders

Phase 3 (2^nd week of November 2018)
Hard cap: 35 million PYN
23% bonus to PYN token holders

Phase 4 (Last week of May 2019)
Hard cap: 35 million PYN
21% bonus to PYN token holders

Phase 5 (2^nd week of November 2019)
Hard cap: 35 million PYN
19% bonus to PYN token holders

Phase 6 (Last week of May 2020)
Hard cap: 30 million PYN
17% bonus to PYN token holders

Phase 7 (2^nd week of November 2020)
Hard cap: 30 million PYN
15% bonus to PYN token holders

Phase 8 (2^nd week of November 2018)
Hard cap: 22,045,000 PYN
13% bonus to PYN token holders

For more information about Paycent please visit paycent.com.

Do you think a ‘bridge’ between cryptocurrencies and fiat currency is something that the crypto community needs? Let us know in the comments below.

Images courtesy of Paycent

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