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Crypto Trader on Ripple's XRP Price Action: "Patiently Waiting for That +30 Percent Daily Candle"

  • Alex Dovbnya
    ๐Ÿ“ฐ News

    Ripple's XRP is on the verge of a massive breakout that could propel its price to new yearly highs

Crypto Trader on Ripple's XRP Price Action: "Patiently Waiting for That +30 Percent Daily Candle"
Cover image via www.123rf.com

Cryptocurrency trader "Galaxy" says that he's "patiently" waiting for Ripple's XRP to print a massive 30 percent candle on its daily chart. 

At press time, the XRP token is changing hands at $0.283 with a solid 4.46 percent gain over the last 24 hours. The third biggest coin by market cap has now fully recovered after nosediving on Sept. 24 to the $0.23 level, which was its lowest point since November 2017.  

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XRP was one of the best-performing digital assets during the big crypto bubble of December 2017 with its price surging from $0.22 to $3.30 (its current ATH) in less than a month. 

As reported by U.Today, "Galaxy" tweeted that the token's price could gain up to 4,600 percent after recording a bullish MACD crossover on the weekly chart. Even commodity trading vet Peter Brandt caved in to the bullish sentiment surrounding XRP, claiming that it was bottoming against Bitcoin. 

 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry โ€” from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. Heโ€™s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
    ๐Ÿ“ฐ News

    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fedโ€™s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
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Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fedโ€™s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

โ€œIt is inevitable. I think it is better for us to start getting our hands around it.โ€

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of โ€‹โ€‹creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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