Aurelia Butler

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    in Cryptocurrency

    What to Expect From The XRP Price Heading Into The New Week

    As the market is once again showing signs of recovery, most of the top 10 cryptocurrencies are trading in the green for today. The same can be said for the altcoin XRP. CoinMarketCap indicates that XRP is trading hands at $0.3808 after a 2.69% increase in price over the last day. The crypto is also in the green by more than 4% over the last seven days.At the moment, XRP’s 24 hour trading volume is in the green zone and stands at $1,123,704,079 after a more than 50% increase since yesterday. With its market cap of $19,324,115,366, XRP is currently ranked as the 6th biggest crypto in terms of market capitalization. This places it right behind USD Coin (USDC) in the 5th position and in front of Cardano (ADA) which is ranked 7th on the list of the biggest cryptos.Daily chart for XRP/USDT (Source: TradingView)The daily chat for XRP/USDT shows that XRP’s price is trading above the support zone between $0.3520 and $0.3686 at press time. Additionally, XRP’s price is also trading above the 9-day and 20-day EMA lines. These lines have been strong resistance levels for XRP during this crypto winter.The break above the 9-day and 20-day EMA lines may be short-lived and XRP’s price may retrace in the coming 24-48 hours. If XRP’s price is unable to close today above the two EMA lines then the remittance token’s price will likely recline to $0.3686.On the other hand, closing today’s trading session above the two EMA lines will see XRP’s price make a move to the next resistance level at $0.4031.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post What to Expect From The XRP Price Heading Into The New Week appeared first on Coin Edition.See original on CoinEdition More

  • 138 Shares199 Views

    in Economy

    Germany, Japan seek cooperation on economic security amid supply chain strains

    TOKYO (Reuters) -Germany and Japan agreed to cooperate closely on economic security on Saturday during their first ever high-ministerial government consultations, held amid tensions over global supply chains and economic disruptions caused by the war in Ukraine.German Chancellor Olaf Scholz, accompanied to Japan by six ministers, is looking at ways to reduce German dependence on Chinese raw materials.”The Russian invasion of Ukraine as well as the COVID-19 pandemic have made us painfully aware of the difficulties that can arise when there is too much economic dependency in critical areas,” Scholz said at a news conference following the talks.”We must react to this. Together with Japan and other partners, we are working on drawing the right conclusions from these experiences,” he added.In a joint statement, the two countries “affirmed their intention to strengthen cooperation on economic security” and to work towards establishing “a legal framework for bilateral defence and security cooperation activities, such as rendering logistical assistance and support”.’STRATEGIC AREAS’Japanese Prime Minister Fumio Kishida said Germany and Japan aimed to boost cooperation “in strategic areas including mineral resources, semiconductors, and batteries, and share our best practices to counter risks in order to build a resilient supply chain that is safe and sustainable”.Germany holds inter-governmental consultations with a number of countries including France and China. German officials said the decision to hold its first such consultation with Japan was of considerable political and symbolic importance.Given Japan’s passing of a bill on economic security, Berlin hopes to learn about its raw material strategy and follow Tokyo’s lead on how to cut dependency on imports, a German government official said of the visit.In a move primarily focused at China, Japan’s parliament passed an economic security bill last year aimed at guarding technology and reinforcing critical supply chains.Trade between Germany and China rose to a record level last year, making the Asian country Germany’s most important trading partner for the seventh year in a row despite political warnings in Berlin about excessive dependence.Goods worth around 298 billion euros were traded between the two countries in 2022, up around 21% from a year before, according to data from the German statistics office.Japan is Germany’s second largest trading partner in Asia, but volumes in 2022 were less than a fifth of those with China.Germany’s centre-left government is now taking a tougher line towards Beijing than its centre-right predecessor and is exploring ways to wean itself off heavy reliance on China’s economy.”As democracies and as highly industrialized, export-oriented economies, Japan and Germany face similar challenges in shaping the digital and ecological transformation and strengthening the resilience of their economy in difficult geopolitical times,” Franziska Brantner, state secretary in Germany’s economy ministry, told Reuters. More

  • 188 Shares199 Views

    in Cryptocurrency

    No One Can Print BTC out of Thin Air, Says CZ after $300B Fiat Print

    Yesterday, Changpeng Zhao, the CEO of Binance, took to Twitter to praise a core feature of the Bitcoin technology that makes it resists inflationary pressures, a feature traditional fiat currencies lack.“No one can print Bitcoin out of thin air,” Zhao tweeted, adding, “mining is a feature.” This statement comes after multiple reports confirmed that the US government had printed $300 billion “out of thin air” as a bail-out following the collapse of three prominent banks in the country.According to data from the market tracking website, CoinMarketCap, Bitcoin (BTC) has surpassed $27,500 in the last 24 hours, one of its highest points in nine months. This increase comes after BTC fell below $19k in the week when the US banking sector slipped in crisis and numerous bank runs.Bitcoin’s cumulative seven-day growth stands over 36%, with a market share exceeding $529 billion. Other top coins, such as Ethereum (ETH), Binance Coin (BNB), and Cardano (ADA), are all on double-digit positive gains from the previous week.Many experts have been theorizing that the US government is deliberately hunting down the crypto industry following the closure of the pro-crypto financial institution Silvergate Bank.On Thursday, US Congressman Tom Emmer said the government is “weaponizing market chaos to kill crypto.” In an interview with Fox Business News, Emmer quoted two sources who reported that any company buying Silvergate Bank would have to sign an undertaking prohibiting it from facilitating crypto transactions.The post No One Can Print BTC out of Thin Air, Says CZ after $300B Fiat Print appeared first on Coin Edition.See original on CoinEdition More

  • 113 Shares99 Views

    in Cryptocurrency

    UBS Acquires Credit Suisse and Supreme Court Hears Coinbase

    The Saturday Asia Briefing, the weekend market analysis, highlighted the multinational investment bank UBS Group’s acquisition of the falling investment banking company Credit Suisse. The report also narrated the Supreme Court’s first hearing on crypto, regarding Coinbase’s arguments on the arbitration of two lawsuits.Interestingly, Bloomberg, the Television platform shared a Twitter thread quoting “UBS works on a deal with Credit Suisse, while crypto heads to the Supreme Court: Saturday Asia Briefing”:Notably, subsequent to Credit Suisse’s failure of an emergency funding lifeline, the investors lost trust in the Swiss bank. According to the people familiar with the matter, the Swiss regulators sought to merge UBS, the Swiss banking giant, and Credit Suisse, as a source of resolution.It has been revealed earlier that the Boards of the two Swiss banks would be summoned for an official meeting on Saturday to discuss the opportunities of the banks once merged. Though the regulators are much interested in the union of the financial bodies, the banks seemingly are less enthusiastic.Similarly, the leading crypto exchange Coinbase (NASDAQ:COIN) has been fighting against two lawsuits, one filed by Abraham Bielski and the other by former Coinbase customers. The plaintiff Bielski asked for compensation of $31,000, alleging that he had lost the amount to a scammer who accessed his account with the knowledge of Coinbase.In the second lawsuit, the former customers of the company alleged that Coinbase manipulated them into paying more than $100 to enter a sweepstake, offering a chance to win rewards up to $1.2 million in Dogecoin.Significantly, Coinbase seeks the court to cease the trial proceedings arguing that the trial court proceedings are supposed to be ended automatically when a party files a significant appeal to compel arbitration. The appeal is supposed to be presented in front of the Supreme Court the next Tuesday.The post UBS Acquires Credit Suisse and Supreme Court Hears Coinbase appeared first on Coin Edition.See original on CoinEdition More

  • 88 Shares129 Views

    in Cryptocurrency

    Euler Finance hacker starts returning stolen Ether

    On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to Euler Finance’s deployer address from the Euler Finance hacker’s address. Blockchain investigator PeckShield identified three transactions that were used to send the funds.Continue Reading on Coin Telegraph More

  • 125 Shares139 Views

    in Cryptocurrency

    IncomeSharks Predicts Bitcoin Price Will Not Surpass $40K in 2023

    IncomeSharks, a platform known for crypto education, market analysis, and predictions, has tweeted that the highest price Bitcoin could reach in 2023 would be between $30,000 and $40,000. The platform expects the Bitcoin price to reverse the losses incurred due to the obstructive events of 2022, such as the Luna crash and the failure of the FTX exchange.Most of the respondents under the tweet by IncomeSharks seem to agree with the projection, with one asking what could happen to altcoins when BTC slows down. To that question, IncomeSharks replied that altcoins would pick up pace as soon as the BTC surge relaxes.Another follower who agrees with the projections added that after reaching the $30,000 to $40,000 region, Bitcoin will go into a sideways range until the next halving event in 2024.The Luna crash in May 2022 is estimated to have wiped out up to $60 billion from the digital currency space. That loss resulted from a massive UST sell-off after its price dropped from $1 to $0.91. The liquidation saw UST holders exchange 90 cents UST for $1, causing the stablecoin to depeg. That led to an increase in Luna’s circulating supply.The panic injected by the crash reverberated across the industry with many crypto exchanges delisting Luna and UST pairings. Almost all major cryptocurrencies suffered significant losses, including Bitcoin.Several months later, while Bitcoin struggled to recover from the Luna Crash, FTX collapsed following reports of potential leverage and solvency concerns involving Alameda Research, a trading firm affiliated with FTX. The event shook an already fragile crypto market, leading to significant losses that saw the market valuation drop below $1 trillion.Bitcoin fell below $16,000 and remained in that range until the resurgence in January 2023. Prices have continued to rally, and the global macroeconomic challenges appear to influence an influx of funds into the crypto market.As of the time of writing, Bitcoin traded at $27,466, having bounced off support below $20,000 in the past week.The post IncomeSharks Predicts Bitcoin Price Will Not Surpass $40K in 2023 appeared first on Coin Edition.See original on CoinEdition More

  • 150 Shares189 Views

    in Cryptocurrency

    DOGE’s Price Could Post a 40% Gain if This Level Is Breached

    The crypto market tracking website, CoinMarketCap, shows that the price of Dogecoin (DOGE) has risen 3.34% over the last 24 hours. This takes the meme coin’s price to $0.07784 at press time.DOGE’s has been in a tight range for the past few months. However, the recent sweep of the range low was a buy signal for traders who identified the opportunity – helping them to recover recent losses. Currently, the meme coin is coiling up to continue this trend to move higher.In the last 4 months, the altcoin’s price has been stuck between the buying climax at $0.0946 and the selling climax at around $0.0705. The coin’s price did slip below this range in early March, however, but was able to recover above the lower limit of the range in the week that followed.A continued bullish narrative for the crypto market leader, Bitcoin (BTC), could fuel the rally for DOGE’s price which will retest the aforementioned buying climax of $0.0946. Should this happen, it would constitute a 23% for DOGE holders.In an extreme bullish scenario, DOGE’s price could attempt an extension of this move and tag the $0.106 hurdle. This would result in a 40% gain for the meme coin.Something that DOGE investors and traders should note is that the number of addresses joining the Dogecoin network has doubled from 15,000 to 30,000 between March 1 and March 8. However, this number has since dropped to approximately 16,000. Nonetheless, there has been an increase in the number of Dogecoin addresses – supporting the bullish thesis.Despite things looking optimistic for DOGE’s price, a breakdown of the selling climax at $0.0705 will invalidate the bullish thesis.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post DOGE’s Price Could Post a 40% Gain if This Level Is Breached appeared first on Coin Edition.See original on CoinEdition More

  • 125 Shares169 Views

    in Economy

    Japan, Germany agree to carefully monitor markets, coordinate as needed

    TOKYO (Reuters) – Japan and Germany agreed on Saturday to coordinate closely on financial jitters stemming from problems among Western banks while carefully monitoring global markets and economy, a Japanese finance ministry official told Reuters. The agreement came in a 45-minute meeting between Japanese Finance Minister Shunichi Suzuki and German Finance Minister Christian Lindner, visiting Tokyo for bilateral government consultations.Banking stocks globally have been battered since Silicon Valley Bank collapsed and Credit Suisse was forced to tap $54 billion in central bank funding, raising questions about other weaknesses in the financial system.The ministers were meeting as German Chancellor Olaf Scholz and Japanese Prime Minister Fumio Kishida kicked off their first government consultation involving multiple cabinet members from both countries, to discuss ways to secure economic security.”Risk aversion has been seen in financial markets. We will carefully watch developments and coordinate with the central bank and overseas authorities,” Suzuki told Lindner, according to the Japanese official. “Japan’s financial system remains stable as a whole.”Both sides agreed on the need to closely monitor financial developments and coordinate as needed, the official said, without elaborating further.Japan succeeded Germany this year as chair of the Group of Seven industrial powers, a group that also includes Britain, Canada, France, Italy and the U.S.Suzuki and Lindner agreed to prioritise sanctions against Russia over its invasion of Ukraine and support for Kyiv, while striving to reach agreement on global digital taxation and implement it, and steadily resolve developing countries’ debt in line a Group of 20 framework, the official said. They agreed on the need to strengthen supply chains as an element of economic security. More