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XRP Could Surge Very, Very Soon

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2019 was a hard time for XRP, being one of the only major cryptos that ended lower than where it began. However, analysts believe that XRP has begun its journey upward.

Evidently, XRP is currently “in the process of breaking above a 6-month resistance level… the break above this level could easily lead it to surge towards $0.33.”

Since XRP’s best rallies have resulted in parabolic movements, as analysts are thinking this rally may trigger, “it is possible that this potential surge to over $0.30 will spark a massive amount of buying pressure that allows the crypto to begin a vertical ascent.”

Consider buying today because this rally has only just begun.

The post XRP Could Surge Very, Very Soon appeared first on Bitcoin IRA | Official Bitcoin Retirement Account Investment.

Source: https://bitcoinira.com/articles/xrp-could-surge-very-very-soon

Blockchain

Bitcoin Overbought Above $12K But Analysts Understate Drop Fears

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Bitcoin rose above $12,000 on Wednesday for the first time since August 2020 but signaled an imminent price correction as it entered a so-called “overbought” area.

The readings on Bitcoin’s 14-day Relative Strength Index pushed above 70, a level above which an asset’s bullish trend is considered overstretched. While that does not signify a price crash, it certainly indicates that the crypto may undergo consolidation or a minor retracement at best.

bitcoin, btcusd, btcusdt, xbtusd, RSI

Bitcoin RSI fractals in recent history and their influence on price. Source: BTCUSD on TradingView.com

The last three RSI retracements from overbought zones this year coincided with one major price crash and two consolidation moves.

In early February 2020, the RSI level had peaked at 74.33 that later followed a huge slide – from $10,522 to as low as $3,858. Meanwhile, the overbought cases that followed later saw Bitcoin trading in a sideways range, with a bias towards bulls. That left the cryptocurrency in a conflicted scenario as its price attempts to hold $12,000 as support.

Bullish Theories

Some analysts expected the Bitcoin price to climb further upwards despite its overbought status. A pseudonymous one expected BTC/USD to march towards $15,000, almost a thousand dollars above its 2019 high.

Meanwhile, Bitcoin advocated Pierre Rochard focused on the fundamental end of the cryptocurrency. He recalled the recent investments of major institutions into Bitcoin (MicroStrategy, Square, etc.), adding that more firms would “panic-buy” the cryptocurrency against their non-yielding cash investments. Excerpts:

“Square only bought $50 million worth of bitcoin. They’re going to panic buy more. And eventually, [Apple] will panic buy. Holding and rolling short duration fiat-denominated fixed income “cash-equivalents” is financially irresponsible due to inflation.”

Logan Han, a daytrader-cum-market analyst, also envisioned Bitcoin at $20,000, its previous record high, if the cryptocurrency manages to hold or consolidate above $12,000.

bitcoin, btcusd, btcusdt, xbtusd, RSI

Bitcoin fractal from 2017, showing its rally above the $12K-support. Source: Logan Han

“Lower $12K region is a historically crucial price range for Bitcoin,” Mr. Han explained. “If BTC manages to take a leap here and reach $14K, there’s nothing stopping BTC from going straight to $20K.”

Bitcoin Correction Setup

A pseudonymous analyst on Twitter posted a relatively balanced outlook on the Bitcoin market. He stated that the cryptocurrency had every chance to sustain its uptrend above $12,000. Nevertheless, he further noted that a correct below the said level would put Bitcoin en route to $11,150 – a support target.

bitcoin, btcusd, btcusdt, xbtusd, RSI

Bitcoin trade setup in the short-term, as presented PostyXBT. Source: XBTUSD on TradingView.com

“I’ve been bullish above $11,150 but approach such a key level of resistance is bringing out my bear market PTSD,” the analyst added.

BTC/USD was trading near $12,200 at the time of this writing, up 2.33 percent into the Wednesday session.

Source: https://bitcoinist.com/bitcoin-overbought-above-12k-but-analysts-understate-drop-fears/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-overbought-above-12k-but-analysts-understate-drop-fears

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PayPoint Sells Romanian Business for £47 Million

The final agreement for the deal is now pending with the regulators.

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Retail payments platform PayPoint is exiting Romania by selling all its businesses in the country to Innova Capital for around £47 million (around $61.14 million) on a debt-free cash-free basis.

Announced on Wednesday, PayPoint will sell its two Romanian arms, PayPoint Services SRL and PayZone SA.

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The step was taken so that PayPoint can focus on its priorities on the key United Kingdom market. The company is considering enhancing its UK business and will invest the proceeds from the acquisition there.

“Consistent with our strategic priorities, we are pleased to have agreed the sale of PayPoint Romania,” PayPoint CEO Nick Wiles said. “We have decided to sell the Romanian business to focus on our core UK markets and the delivery of our strategic priorities for future growth in these markets. We believe that Innova is the right owner to take the business forward, and we wish PayPoint Romania and Innova well for the future.”

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Exiting a Profitable Business

PayPoint entered Romania in 2007 and established a strong network of its retail payments business in the country. According to the company, it partnered with local retailers through around 19,000 sites and was enabling consumers to make cash bill payments, money transfers, road tax payments, and mobile phone top-ups.

The business also performed impressively and generated £69.7 million in revenue for FY2020, ending on March 31, with an adjusted EBITDA of £7.3 million and a pre-tax profit of £6.8 million.

The two Romanian wings of PayPoint had a gross asset of £48.5 million till the ending of the last financial year.

“The Romanian business has been part of the Group for 13 years, and I would like to thank the Romanian management team and employees for their contribution to PayPoint over this time,” Wiles added.

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Crypto.com Integrates PayID Offering 5M Users an Easy and Unique Way to Send & Receive Crypto

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[PRESS RELEASE]

HONG KONG, October 19, 2020 — Crypto.com today announced PayID, a universal payment identity developed by the Open Payments Coalition, is now available on the Crypto.com App.

Crypto.com’s 5M+ users can register for a PayID from the Crypto.com app, consolidating complex wallet addresses and accounts into a simple ID that works across any payment network and currency. Users who register for their unique PayID will get an exclusive Crypto.com-branded, easy-to-read ID — such as “yourname$payid.crypto.com — that enables users to send/receive crypto payments from other compatible wallets with just a single ID, easing their ability to connect to 100M+ crypto users worldwide.

cryptocom_PR

PayID solves a key pain point in the crypto payments world, which consists of many closed and complex networks. Participants must manage multiple long and random wallet addresses, increasing the likelihood of erroneous transactions. PayID creates a free, open and common protocol that allows for interoperability between any payment network or currency.

Starting today, Crypto.com is offering early access for select customers to register their unique Crypto.com PayID. To be eligible:

  • Stake 10,000 CRO or more in Crypto.com Exchange; or
  • Stake 10,000 CRO or more in Crypto.com App

On 2 November 2020 all Crypto.com App users can register their own Crypto.com PayID within the Crypto.com App.

Once registered, users can send crypto from other compatible wallets to the Crypto.com App with just their PayID, instead of a full-length crypto address. At launch, supported cryptocurrencies include CRO, ETH, BTC, XRP and many more ERC20 tokens. Users can also send crypto to other compatible wallets using PayID hosted by other members in the Open Payments Coalition.

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. Crypto.com serves over 5 million customers today, providing them with a powerful alternative to traditional financial services through the Crypto.com App, the Crypto.com Card, the Crypto.com Exchange and Crypto.com DeFi Wallet. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 600+ strong team. Find out more by visiting https://crypto.com

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Source: https://cryptopotato.com/crypto-com-integrates-payid-offering-5m-users-an-easy-and-unique-way-to-send-receive-crypto/

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