fact, the aforementioned surge in XRP’s price brought down the cryptocurrency’s monthly losses to 53% from over 75%, a development that came at an opportune time since the crypto was struggling since news of the SEC lawsuit against Ripple broke last month.

The larger crypto-market has mostly reaped the benefits of Bitcoin’s bullish rally over the past few months. However, until recently, XRP was one of the only crypto-assets that seemed to be missing out on it.

Unsurprisingly, XRP holders were excited by the price surge, with crypto-analytics platform Swarm revealing that it received over 11,473 mentions in the last 24 hours. Interestingly, some XRP holders even stipulated that the crypto-asset would record 500% gains in the near future.

— Crypto Bull🚀 (@CryptoBull2020) January 7, 2021

What is also interesting is that despite the fact that many crypto-exchanges delisted XRP following Ripple’s legal troubles, the 24-hour volume for the crypto-asset rose by 97% to $10.3 billion.

The price rise in question may have something to do with what many traders refer to as “the start of an institutionally fueled alt season,” with the likes of LINK, MKR, and NEO also recording double-digit percentage gains, along with XRP.

While that was a bullish development, data from crypto-trading analytics platform ViewBase suggested that Binance Whales are Net short on XRP as the Binance Top Traders Position was XRPUSDT Perpetual.

Whether or not XRP’s gains over the past 48 hours will be short-lived remains to be seen. However, since many remaining XRP bag holders aim to minimize losses over taking profits, they are likely to sell once the price hits a certain level.

Bitcoin: Why a short-term top is inevitable

Stellar Lumens Price Analysis: 07 January

Samyuktha is a full-time journalist at AMBCrypto. Currently pursuing her Masters in Finance and Business Analytics, she is interested in cryptocurrencies, fintech, and blockchain technology adoption across various sectors.

XRP, Monero, Dogecoin Price Analysis: 11 January

XRP, Tron, Ethereum Classic Price Analysis: 10 January

XRP Price Analysis: 09 January

XRP, EOS, Dogecoin Price Analysis: 08 January

Ethereum’s OI is up 75% in 7 days, how will the price react?

XRP, Tron, Zcash Price Analysis: 07 January

December 2020, while withdrawals will close on 29 January 2021.

In light of such a development, non-Korean citizens who have BKRW at Binance.com will be able to trade BKRW at Liquid Swap and earn commissions in liquidity pools until 29 January 2021 at 2:00 PM KST. Currently, Binance Liquid Swap (BSwap) supports BKRW/BUSD.

Alternatively, users can trade BKRW for USDT, BTC, BUSD, XRP, ETH, BNB, AAVE, DOT, ADA, and LINK at BKRW spot fiat market. BKRW will be delisted on 29 January, following which, it will no longer be tradeable.

According to a press release shared with AMBCrypto, the South Korean arm of one of the world’s largest crypto-exchanges is shutting down operations due to low usage and volume with limited trading pairs of BKRW, resulting in limited liquidity for its users.

Following the closure announcement, the Binance KR team revealed that it aims to reassess its market strategy based on the resources and experience gained from operating a local exchange.

Binance CEO Changpeng Zhao (CZ) commented,

This is an interesting development since Binance KR was launched only 8 months ago, with registrations and deposits opening on 2 April 2020.

However, it is not the only crypto-exchange in South Korea to face issues with respect to low transaction volume. Prixbit, another South Korean crypto-exchange, suspended operations on 9 August 2019 owing to the same reasons.

In fact, South Korean crypto-exchanges have faced challenges with respect to low transaction volume for a while now, with a report from Business Korea revealing that 97 percent of domestic exchanges are in danger of going bankrupt due to their low volume of transactions.

The Financial Services Commission’s (FSC) latest ban on privacy coins on exchanges has also seen the delisting of several coins such as Monero, Dash, and Zcash from many crypto-exchanges in the country, including OKEx.

Such an ever-tightening regulatory landscape, coupled with already low transaction volumes, present many uncertainties for crypto-exchange operators in the country.

Litecoin, Steem, Zcash Price Analysis: 24 December

Are XRP whales dumping their coins?

Samyuktha is a full-time journalist at AMBCrypto. Currently pursuing her Masters in Finance and Business Analytics, she is interested in cryptocurrencies, fintech, and blockchain technology adoption across various sectors.

How did Bitcoin successfully push above $20k this past week?

Binance supports Vietnamese Dong backed stablecoin, BVND

Binance Labs Leads $12 Million Investment Round for MathWallet

Binance Coin was 2019’s best performer; outperformed Bitcoin, Litecoin

Binance will list Facebook’s Libra if it commands strong user base

Binance Research advocates #HODLing as it analyzes Bitcoin’s annualized returns

breached the $40,000 level to register a high of $41,986. Ethereum was also trading above $1,200 and the altcoin market saw many coins, large-cap or otherwise, register good gains.

XRP had a rather unclear picture. Further bearish news or a correction across the market could easily see XRP lose the important $0.3 level to the bears.

We know how XRP’s surge to $0.78 turned out. What is important to consider is the fact that, prior to the breakout, XRP was trading within a range from $0.17 to $0.3 since July 2019.

In the long-term, $0.3 is a very important level indeed. That is why the move above this level over the past few days gave some hope to XRP bulls.

Even though XRP has a low correlation of +0.3 to BTC, it remains a fact that XRP has not seen anywhere near the expected appreciation while Bitcoin and Ether multiplied in value over the past few months. A deep correction in the crypto market will see XRP face intense selling pressure as well.

Hence, for XRP, a short position is likely to turn out to be the profitable bet over the coming weeks, provided $0.3 is ceded to the bears.

The RSI showed that the bearish momentum which seized XRP has given way to a more neutral outlook. The defense of the $0.3 level is of vital importance over the coming weeks.

A daily close beneath this level is very likely to see XRP register further losses, with the mid-point of the range at $0.23 likely to be tested in that case.

The RSI has not yet risen past neutral 50, and could be poised to test that value before heading downward once more alongside the price. The 100 day moving average (pink) can also be expected to offer resistance to XRP.

Note that this trade requires $0.3 to be lost and retested as resistance to enter a short position.

Stop-loss: $0.345

Take-profit: $0.23

Risk-to-reward: 1.56

In the scenario that XRP loses the $0.3 level to selling pressure, a short position is recommended. A consolidation above this level over the next few days does not necessarily mean that XRP is on the road to recovery, but a move above $0.36 would indicate bullish strength for XRP.

Cardano, Cosmos, FTX Token Price Analysis: 09 January

Stellar Lumens, Tron, Algorand Price Analysis: 09 January

Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.

XRP, Monero, Dogecoin Price Analysis: 11 January

XRP, Tron, Ethereum Classic Price Analysis: 10 January

XRP, EOS, Dogecoin Price Analysis: 08 January

Binance whales are Net Short on XRP after alt rises by >33%

XRP, Tron, Zcash Price Analysis: 07 January

What are the implications of OCC’s letter for USDC, XRP?

strong correction that already took it to $26,600. Meanwhile, Binance Coin (BNB) approaches its previous ATH, promising to make a new record.

Following Bitcoin’s surge to nearly $28,300, the coin started seeing a correction that took it down to around $26k. Soon after that, the coin started seeing a correction, but as soon as it started approaching the $27,500 threshold, its price started seeing a decline for the second time.

At the time of writing, BTC sits at $26,788, indicating that another correction has already started. For now, all that investors can do is wait and see whether the price will manage to break through, or will it once again run into an obstacle that will reject it back down.

Another coin seeing problems is XRP, which has seen a massive decline recently, after the SEC announced a lawsuit against the coin’s parent company, Ripple. After the lawsuit became public knowledge, Ripple started losing supporters. Companies such as MoneyGram distanced themselves from the project, and XRP got delisted from numerous exchanges.

It is not all bad news, however, as there are several cryptocurrencies that saw significant price improvements as these coins’ prices declined.

One example is Cardano (ADA), which saw its price go up by around 14%, and the same can be said for Polkadot (DOT), which saw a similar rise. The most notable performance, however, comes from Binance Coin (BNB), which is closing in on its previous all-time high.

BNB’s record price still sits at $39.57, which it reached in mid-June 2019. However, the coin is currently less than a dollar and a half below this milestone, and it might soon hit a new record if it hits $40. The coin’s new price is a result of a 12% surge, which may not have secured an ATH against USD as of yet, but Binance data shows that BNB did hit an ATH against Tether.

The post Binance Coin (BNB) closing in on $40 as Bitcoin continues to drop appeared first on Invezz.

Article source

the community members, the lawsuit that the Securities and Exchanges Commission (SEC) initiated against Ripple has had a dilapidating effect on the value of the asset. The petition mentions that the litigation pushed the market capitalization of XRP from $40 billion to a little over $10 billion within just a few days.

The drop in the asset value has also led to it dropping from its top three position into number four on the ranking tables of crypto assets. Tether has taken the XRP position behind Bitcoin and Ethereum.

They also highlighted that the litigation has forced many crypto exchanges like Bittrex, Binance, Coinbase and the rest of them to suspend trading the token on their platform. These exchanges had taken this action in order to comply with the authorities’ regulations.

The petition further adds that the lawsuit has led to loss of investment and financial wealth among American investors who had invested in the token. This loss, they believe, was caused by the SEC. They pointed out that the Financial Crime Enforcement Network (FINCEN) already recognizes the token as a currency.

Since news emerged that the SEC was going to be filing a lawsuit against Ripple, the native token of the firm has struggled massively since then.

The market capitalization of the token has suffered greatly. The token dropped from number 3 to 4 on crypto ranking with Tether usurping it. The value of the token also dropped to around the $0.20  level.

The asset has also been delisted by major crypto exchanges like Coinbase and the rest of them due to this upcoming lawsuit. 

20 capitalized. On the one hand, there are full-bodied double-digit rises as in the case of Cardano (ADA), Polkadot (DOT) and Binance Coin (BNB), in 7th, 8th and 9th position, with Polkadot rising by 15%. 

In the middle are Bitcoin and Ethereum with controlled declines. Both have the negative sign but it is a contained descent. 

This is causing the crashing of XRP, which today drops a further -20%. Ripple’s performance since the beginning of the month sees a 67% loss in value. Considering the record high of November 24th, the loss is 70%, with prices falling just short of 21 cents, the lowest level not seen since last July and undoing all the rally that Ripple had recorded in the second part of November. 

Looking at the sector, today unlike yesterday there are just over 70% crypto assets in negative territory. As mentioned though, these are largely controlled declines.

Among today’s top risers, Chillz (CHZ) rises to the podium with +20% followed by Ren, +17% and then ADA,+13%.  On the opposite side Ripple is performing the worst followed at a distance by Verge (XVG), the other only one among the top 100 with a double-digit decline, -10%. 

Despite the slowdown of the last few hours, the market cap remains below $720 billion, last Sunday’s record, but above $710 billion. 

Bitcoin retreats below 70% of dominance, but remains at the highest levels of the last two years. In fact, the 70% mark, surpassed on Sunday, had been passed in September 2019, and had not been recorded since March 2017. It was an inverse phase to the current one, where there was a descent of prices and dominance, whereas in this case there is a bullish phase. Despite the excellent rises in the last 48 hours, Ethereum remains just above the 11% threshold while Ripple sinks to 1.8%, the lowest level it has not recorded since March 2017.

Volumes in the day yesterday were definitely tonic, in a context that has instead seen a 30% decrease in the last 24 hours with $300 billion of volumes. 

DeFi sees absolute records rising for the first time above $14.5 billion, an absolute historical peak since DeFi Pulse removed WBTC from the general basket which is now categorized in a basket related only to tokenized BTC. 

Therefore today’s TVL sees Maker confirming its leadership with over $2.8 billion, followed by Compound, $2.1 billion and in third position is still Aave, $1.8 billion. 

After the glories of the weekend that saw the absolute historical records at $28,370, Bitcoin is seeing profit-taking prevail, which however are not affecting the short-term bullish trend that saw a descent with prices just below the threshold of $26,000, then recovered. 

It is a static phase for Bitcoin, which is not a concern for the trend in a decidedly bullish context. The first levels of concern that would begin to give bearish signals in the short term are below the threshold of $24,000, whereas in the medium-term context the support remains at $20,000, which coincides with the previous resistance that acted as a stopper to any rise and that has yielded with the breakthrough of mid-December and generated the recent rally.

The spike recorded yesterday with prices touching $750, the highest level that ETH has not recorded since May 2018, sees ETH maintaining a well-set uptrend. The movement of the last few hours removes the dangers of a test of the support of $550, lows of Christmas Eve when prices tested this threshold and then saw the purchases begin that led to the mini-rally of recent days that saw prices fly by more than 35%. 

At the moment, profit-taking is not particularly affecting Ethereum. An eventual break of $750 will have to be supported by volumes that are currently growing. 

shrunk slightly over billion USD since earlier today, and the coin is now the holder of the fourth position on CoinMarketCap with USDT taking third place.

Peter Schiff, the famous Bitcoin critic, has taken to Twitter to share XRP's decline, reminding the community that XRP lost nearly 70 percent of its market cap after the U.S. SEC sued Ripple and its former and current CEOs, Chris Larsen and Brad Garlinghouse.

The regulator has also concluded that XRP is an unregistered security.

Having reached a high of $0.78 on the coattails of the Bitcoin rally earlier this year, XRP was trading above $0.60 but then began a fast decline.

Earlier today, XRP sat at $0.22 but, at press time, the coin is trading at $0.19. Schiff got the name of the asset wrong, calling XRP by the name of fintech giant Ripple. He asked followers what may happen to Bitcoin if the SEC calls that a security, too.

However, this is not an issue as the regulator has already announced that Bitcoin and Ethereum are not securities.

announcement by Binance US. More than 10 cryptocurrency exchanges have announced delisting of XRP so far after the SEC’s lawsuit against Ripple.According to the latest announcement by Binance US, the cryptocurrency exchange will suspend XRP trading and deposits from 13 January 2021. Binance joined Coinbase, Bittrex, Crypto.com, Crosstower and other leading exchanges in XRP delisting. However, after crashing more than 60% in the last 10 days, the price of XRP discovered strong support holding its value at around $0.20.Earlier this week, leading cryptocurrency exchanges including Coinbase and Bittrex announced the suspension of XRP trading. In view of the recent suspension and delisting, Ripple issued a statement against the SEC’s allegation and termed the action of the US regulator an attack on the entire crypto community. Additionally, Ripple mentioned that the company will fight the case with full force. The world’s fourth-largest cryptocurrency reacted positively to the news and jumped more than 20%.Suggested articles5 Popular Debit Cards That Let You Spend CryptoGo to article >>XRP’s Price ActionDespite all the negative news, the price of XRP is currently trading at around $0.21, as the cryptocurrency showed resistance in the last few days. The cryptocurrency is still up more than 10% in 2020. XRP received strong support from Japan as the country refused to categorize the world’s fourth-largest cryptocurrency as a security. The cryptocurrency received backing from the XRP community and despite the panic among retail investors, the price of cryptocurrency found support near the $0.20 level.The crypto market gained significant value in December as the total market cap jumped above $760 billion for the first time since January 2018. Bitcoin remained the most valuable cryptocurrency with a $540 billion market cap. The price of Bitcoin is currently trading around $29,000, up from $19,000 at the start of this month. Ethereum also recorded substantial gains this month as the second-largest cryptocurrency jumped from $600 to $742 in December. Ethereum currently has a market cap of nearly $84 billion. Share this articleTelegramFinance Magnates Telegram ChannelTags: crypto / Ripple / XRPGot a news tip? Let Us KnowFound a mistake? Let us know Leave a Reply  Subscribe  Notify ofnew follow-up commentsnew replies to my comments All FM News Exclusive: Marcelo Spina Launches New FX Consultancy/Retail Trading Brand/ 14 mins agoCySEC Withdraws Authorization of Otkritie Capital Cyprus/ 1 hour agoIG Group Releases Brexit Update for EEA Clients/ 3 hours agoFX Futures Volume on Warsaw Stock Exchange Dominated in December/ 4 hours ago Related ArticlesAnthony Scaramucci Warns about Bitcoin BubbleChilean Court Orders Banks to Serve Crypto Exchange BudaIs It Too Late to Buy Bitcoin? Here’s What the Experts Think Directory CategoriesCryptocurrency Brokers 40 Social Trading 4 Wealth Management 45 Cryptocurrency Exchanges 21 Forex Brokers 476 Affiliate Programs 88 Regulation Consulting 33 Tools for Brokers 63 Platforms 156 Industry Websites 250 Regulators 52 KYC 5 White Label Solutions 48 Cryptocurrency Liquidity Providers 4 Translation Services 18 CRM 2 Liquidity Provider 40 Platform Providers 80 MT4/MT5 Bridge Providers 39 Payment Processors 73 Industry Executives 332 Keep in touch with usTelegramLatest PodcastsContent ChannelsRetail FXInstitutional FXExecutivesCryptoCurrencyFinTechAboutOverviewKeep in touch with usAdvertise with Finance MagnatesServicesDirectoryIntelligenceEventsAboutWebsiteTerms, Cookies and Privacy NoticeFinance Magnates is a global B2B provider of multi-asset trading news, research and eventswith special focus on electronic trading, banking, and investing.Copyright © 2021 "Finance Magnates Ltd." All rights reserved. For more information, read ourTerms, Cookies and Privacy Notice ×Report NewsWe do not store your information and we do not disclose our sources. Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):First NameLast NameEmailmessage*CommentsThis field is for validation purposes and should be left unchanged. This iframe contains the logic required to handle Ajax powered Gravity Forms. ×Found a mistake?Be it a typo or a factual error - we do our best but we are also human! Do let us know and we'd be happy to check ourselves and fix if necessary. Thank you.First Name*Last Name*Email*message*NameThis field is for validation purposes and should be left unchanged. This iframe contains the logic required to handle Ajax powered Gravity Forms. wpDiscuz

altcoins Ethereum has seen many large-cap coins surge. Binance Coin has been one of the best performing exchange tokens, with a YTD return on investment of 195%. BNB climbed past its previous all-time high at $39.2 and was trading at $44.3 at the time of writing.

The 12-hour chart showed that BNB’s outlook is strongly bullish. The $40.2-$41.5 region can be expected to serve as strong support should BNB see a pullback. And a pullback was signaled, although it need not materialize immediately. This dip, when it occurs, can give a good opportunity to enter a long position.

The RSI showed a bearish divergence as it made lower highs while the price continued to make higher highs. The MACD highlights the bullish sentiment throughout December and showed this momentum could have cooled off as the signal line and the MACD line were in close proximity.

The Gann fan lines (yellow) from a swing low at $26.6 highlighted potential lines of support and resistance for BNB. The confluence of the 1:1 line with the horizontal support at $41.5 indicated strong support.

A stop-loss beneath the $39.59 area of support can be used. The move from the swing low of $26.6 projected a 27% extension level at $51.65, hence a take-profit order just beneath this level can be used.

Stop-loss:$39.4

Take-profit: $51.58

Risk-to-reward: 4.37

The bearish divergence presents a good chance that BNB sees a minor pullback. This dip to a strong area of support can be used to enter a long position. The bullish momentum of BNB over the past few weeks is not yet done on the longer timeframe. Ethereum is also nearing its ATH, and BNB has a close, positive correlation with ETH.

Cardano, Aave, BAT Price Analysis: 10 January

Cardano Price Analysis: 10 January

Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.

Binance Coin, VeChain, IOTA Price Analysis: 11 January

Binance Coin, Synthetix, Decred Price Analysis: 09 January

Binance Coin, IOTA, Dogecoin Price Analysis: 06 January

Binance Coin, Dash, Ethereum Classic Price Analysis: 03 January

Binance Coin, Monero, Dogecoin Price Analysis: 29 December

Binance Coin, Neo, Maker Price Analysis: 28 December

http://RUNGUYS.COM

Connect With Us Below:

📩 Email: TheRunGuys@Gmail.com 🌎 Group: https://facebook.com/groups/rankupnow 📲 Instagram: @Run.Guys @RunLifeNick @ViralKyle

Yes that is an affiliate link above and we do earn commissions when you get started. If you’re interested in working with us to create a passive income online that way you can invest into cryptocurrencies then trading forex is a great way to make money online from home so you can understand how the markets move. You’ll also get access to our #1 recommendation to generate even more passive income building a business with us.

#XRP #Crypto #Altcoins

Income Disclosure: This is not a get rich quick program nor do we believe in overnight success. We believe in hard work, integrity, and developing your skills if you want to earn more money online. As stipulated by law, we can not and do not make any guarantees about your ability to get results or earn any money with any of our products or services, or the products and services we recommend. The average person who buys any products online gets little to no results. Any references or examples used within this video, are real and documented but are used strictly for example purposes only. Your results will vary and depend on many factors, including but not limited to your background, experience, and worth ethic. All business entails risk as well as massive and consistent effort and action. If you’re not willing to accept that, please DO NOT PURCHASE ANY PRODUCTS MENTIONED IN THIS VIDEO. Results aren’t typical with Bitcoin, XRP, Ethereum and other altcoin crypto investments… so don’t be typical. source

yet again and a 105% hike between October and November re-opened fresh bullish prospects. Sadly, due to its strong de-correlation with Bitcoin, it did not attain new heights in December.

However, it might not be all lost for the asset, as it remains fairly in bullish territory, unlike other major altcoins.

While being one of the poster assets for DeFi universe, Chainlink’s recent lack of price growth could be traced to the stagnancy of DeFi. Bitcoin has absorbed all the market attention over the past few weeks, and DeFi interest has expectedly gone down.

The amount of LINK sitting on exchanges is currently down to 6.67% after registering its largest outflow in 6 weeks. This is also the lowest amount sitting on exchanges since its ICO back in May 2017. Such a trend is an extremely bullish sign considering moving LINK tokens off-exchange means that holders were not looking to sell their allocations.

Additionally, number of active addresses had also registered a change in the past 24-hours.

According to glassnode, the number of LINK addresses was significantly up over the past day, suggesting that its market remains active in terms of transactions. Overall, red flags were not evident in Chainlink’s current market but a particular asset management firm is currently of a different opinion.

XRP’s reputation and value are possibly damaged beyond repair at the moment after the SEC decided to take action against ripple. XRP dropped more than 30% over the past couple of days, and Zeus Capital believes Chainlink’s number will be next in the list of victims.

Zeus Capital has been a consistent critic of Chainlink and Sergey Nazarov and suggested that Nazarov is the direct beneficiary of the Flash Loan phenomenon in DeFi.

Calling Chainlink and Nazarov ‘outright frauds’, if any of these allegations catch any kind of momentum, things may turn extremely sour for Chainlink as well.

XRP’s fate is undecided yet, and only time will tell if Chainlink has to face the same fire, or not.

Litecoin, Polkadot, Algorand Price Analysis: 25 December

With Ripple, XRP, SEC lawsuit & dropping prices, should you hold or sell your coin?

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

Binance Coin Price Analysis: 03 January

Being the first is not always an advantage that lasts; But Bitcoin did! Here’s why

Litecoin, Zcash, Compound Price Analysis: 03 January

12th birthday Bitcoin edition: What has it accomplished so far?

Understanding the main triggers of this Bitcoin bull run

Ethereum surges above $850 as hash rate hits an ATH

🚀 http://RUNGUYS.COM

Connect With Us Below:

📩 Email: TheRunGuys@Gmail.com 🌎 Group: https://facebook.com/groups/rankupnow 📲 Instagram: @Run.Guys @RunLifeNick @ViralKyle

Yes that is an affiliate link above and we do earn commissions when you get started. If you’re interested in working with us to create a passive income online that way you can invest into cryptocurrencies then trading forex is a great way to make money online from home so you can understand how the markets move. You’ll also get access to our #1 reccomendation to generate even more passive income building a business with us.

#XRP #Crypto #Altcoins

Income Disclosure: This is not a get rich quick program nor do we believe in overnight success. We believe in hard work, integrity, and developing your skills if you want to earn more money online. As stipulated by law, we can not and do not make any guarantees about your ability to get results or earn any money with any of our products or services, or the products and services we recommend. The average person who buys any products online gets little to no results. Any references or examples used within this video, are real and documented but are used strictly for example purposes only. Your results will vary and depend on many factors, including but not limited to your background, experience, and worth ethic. All business entails risk as well as massive and consistent effort and action. If you’re not willing to accept that, please DO NOT PURCHASE ANY PRODUCTS MENTIONED IN THIS VIDEO. Results aren’t typical with Bitcoin, XRP, Ethereum and other altcoin crypto investments… so don’t be typical. source

native cryptocurrency of the leading blockchain payments company Ripple. The cryptocurrency exchange has announced that it is going to halt the trading of XRP next month in the light of the legal battle between the United States Securities and Exchange Commission (SEC) and Ripple. Shortly after this news, the price value of the fourth-ranked digital currency plunged down by nearly 20 percent.

In a blog post published on the 28th of December, the cryptocurrency exchange said that it has immediately moved the trading of XRP into “limit only”. The full suspension of the trading of XRP will come into effect next month on the 19th of January.

The Chief Legal Officer (CLO) of Coinbase Paul Grewal said in the blog post that clients’ access to the wallets of XRP will remain unaffected and despite the suspension of XRP trading, they will continue to access the functionality of withdrawals and deposits of XRP. Adding more to it, Grewal said that they have not halted the support of XRP on Coinbase Wallet and Coinbase Custody. Moreover, he said that the holders of XRP will also still remain eligible for the Spark Token Airdrop of the smart contracts platform Flare Networks.

However, the firm has said that it might halt the trading of XRP before the given deadline of January 19 if needed because it is concerned about the maintenance of its “market health metrics”.

This announcement by the San Francisco-based cryptocurrency exchange has come around one week after the United States agency filed a lawsuit against Ripple for allegedly selling unregistered securities worth $1.3 billion.

Prior to Coinbase,  the major cryptocurrency exchange OKCoin also made an announcement saying that it will halt the trading and deposit of XRP on its platform starting from the 4th of January. Now, there are three major cryptocurrency exchanges including Coinbase, Bitstamp, and OKCoin that have suspended support for XRP so far. If things do not cool down between the SEC and Ripple in the coming days, then many other major digital currency exchanges including Binance may also announce the suspension of XRP.

Following the announcement of Coinbase, the price value of Ripple’s native digital currency plummeted down by nearly 20 percent. After suffering a severe price drop, XRP’s value has decreased down below $0.20.

At the press time, the price value of XRP is standing at around $0.19 with a negative price change rate of over 32% in the last 24 hours.

fourth-largest crypto, with lawsuits piling up against Ripple.

As at press time, Litecoin traded at $157.38 with a daily trading volume of about $10 billion. Litecoin is up 0.38% in the last 24 hours. It is now the fourth biggest crypto by market value, standing at $10.425 billion.

READ: XRP in deep crisis, drops 21%

On the other hand, falling crypto asset, XRP at press time traded at $0.226762 with a daily trading volume of $5.4 billion. XRP is down 4.37% for the day, with a market value of $10.3 billion.

READ: KuCoin recovers 84% of Cryptos stolen by hackers

Leading crypto exchanges including, OKCoin, Coinbase, Bittrex, Bitstamp, OSL, CrossTower, and Beaxy are now staying far from XRP, thereby dampening market liquidity in the XRP market as those crypto exchanges listed above recently announced they would suspend trading for XRP, while others will delist XRP entirely.

READ: Ethereum defying law of gravity surges past $1,050

Also compounding hard on Ripple are reports revealing that Tetragon, one of the lead investors in a $200 million Series C funding round for Ripple some years ago, has recently filed a complaint against the firm in court to “enforce its contractual right to require Ripple to redeem” Series C preferred stock held by Tetragon.

READ: Bitcoin’s market value now $468 billion, bigger than GDP of Africa’s largest economy

What you should know: Litecoin is a P2P crypto that allows instant, near-zero cost fee to anyone around the globe. It is open-source in principle, as its global payment network is fully decentralized without any central authority.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

The Office of the Comptroller of the Currency (OCC) has provided conditional approval to Anchorage Digital Bank.

The Office of the Comptroller of the Currency (OCC) has provided conditional approval to Anchorage Digital Bank National Association, the first federally chartered digital asset bank in history.

This development was revealed by the federally chartered crypto bank via its Twitter handle.

It tweeted, “Crypto deserves a bank, and we are immensely proud of being approved as the one to set the standard.”

Read the full announcement 👇👇https://t.co/0bvQHtCbCj

— Anchorage (@Anchorage) January 13, 2021

Having such a license places Anchorage Digital Bank firmly on the same regulatory footing as other American national banks in the country.

That said, the Crypto bank will be apple to offer unique services such as sub-custody services within reach for any traditional financial bank that wishes to offer customers access to Crypto assets.

Such a banking charter is the first seen in modern history, as the new Crypto bank continued that saying the banking charter will hinge upon unique requirements:

“As an enforceable condition of approval, the company entered into an operating agreement which sets forth, among other things, capital and liquidity requirements and the OCC’s risk management expectations.”

Ripple announced via a Job listing site it was looking to hire three central bank technical partner managers.

Ripple, a leading crypto fintech company, is going forward to bring the XRP Ledger to central banks.

Recently, Ripple announced via a job listing site that it was looking to hire three central bank technical partner managers – one for each of its offices in London, San Francisco, and New York.

Whoever fills those highly ranked positions will be mandated to design and deploy central bank digital currency (CBDC) projects.

READ: This is how Cryptocurrency works

Ripple also acknowledged that leading US banks could issue stablecoins on the XRP Ledger:

READ: Ripple’s XRP on a grand slam win, gains 20%

Recall that a powerful financial regulator, through the Comptroller of the Currency (OCC),  clarified details on American national banks’ and federal savings associations’ authority in taking part in using stablecoins to conduct payment activities and other bank-permissible functions.

What you should know: Stablecoins are cryptocurrencies created to minimize the price swings that occur in a crypto asset. They are usually pegged to fiat currencies and often exchange-traded commodities.

READ: Crypto owners robbed of 1,150,000 XRP

Stablecoins give owners a sense of security as users can store their assets whenever there is high volatility in the crypto-verse or other financial markets.

In terms of Bitcoin’s level of interest, Nigeria has been adjudged the highest performing nation worldwide.

Nigeria, Africa’s largest economy and home to over 200 million people, has the highest interest in Bitcoin globally.

According to a recent report released by Google, Nigeria emerged the first amongst other countries around the world in Bitcoin searches on Google.

READ: Africa’s internet economy has the potential to reach 5.2% of the continent’s GDP by 2025 – Goggle/IFC

READ: Computers might steal Satoshi Nakamoto’s Bitcoin fortune

READ: List of Cryptos outperforming Bitcoin, with weekly gains of over 100%

READ: Ethereum Miners earn a staggering $1 million in 1 hour

Unsurprisingly, a significant number of young Nigerians have started utilizing cryptos, in a bid to avoid the numerous challenges faced with the traditional money transfer services, such as high costs and slow speed, amongst others.

In an explanatory note to Nairametrics, Ekene Ojieh,  Head of Public Relations and Corporate Strategy at Buffalo Chase – a crypto analytic firm, gave key insights on how some Nigerians use cryptocurrency for wealth preservation.

READ: World Bank set to invest over $5 billion in drylands across 11 African countries

“Nigerians use bitcoin not just as a store of value but also as an investment. Its accessibility enables anyone to send and receive bitcoin from any part of the world, unlike getting US dollars for international transactions.

“It is worthy to note that bitcoin is still a volatile asset. The upside of this is that one can make a significant amount of profit in a short time frame,” said Ojieh.

READ: Why intelligent investors are secretly buying Bitcoin

Then, it becomes unsurprising to see leading crypto brands like Binance, FTX, Paxful, Crypto.com, printing their labels in Nigeria, as it is apparently one of the fastest-growing crypto markets in the ever-changing world.