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XRP surges by 8% after STASIS integrates Ripple’s XRPL

XRP is the best performer amongst the top 10 cryptocurrencies by market cap. The rally comes after Ripple revealed that STASIS had integrated its XRPL technology. XRP could surge toward the $0.50 resistance level in the near term.  XRP outperforms the other major cryptocurrencies XRP is performing excellently today despite the broader cryptocurrency market likely […]

The post XRP surges by 8% after STASIS integrates Ripple’s XRPL appeared first on CoinJournal.

  • XRP is the best performer amongst the top 10 cryptocurrencies by market cap.

  • The rally comes after Ripple revealed that STASIS had integrated its XRPL technology.

  • XRP could surge toward the $0.50 resistance level in the near term. 

XRP outperforms the other major cryptocurrencies

XRP is performing excellently today despite the broader cryptocurrency market likely to end the week in a negative manner. The native coin of the Ripple ecosystem has added more than 8% to its value so far today. At press time, the price of XRP stands at $0.4059 per coin. 

The positive performance comes after Ripple revealed in a blog post on Thursday that STASIS—which issues the largest euro-backed stablecoin, EURS—has integrated the  XRPL.

Ripple pointed out that its XRPL provides easy on and off-ramps for developers, institutions and consumers to unlock new stablecoin use cases.

XRP’s rally comes as the broader crypto market sheds off some of its gains. The total cryptocurrency market cap stands at $827 billion, down by less than 1% today. Bitcoin is trading at $16,461, down by 0.8% in the last 24 hours, while the price of Ethereum is down by 1.6% and currently trades at $1,181 per coin.

Key levels to watch

The XRP/USD 4-hour chart is bullish as Ripple has been outperforming the broader cryptocurrency market over the last 24 hours.

XRP/USD Chart By TradingView

 

The MACD line is above the neutral zone, indicating that XRP is bullish at the moment. The 14-day relative strength index of 63 shows that XRP could be heading into the overbought region if the rally continues.

With the bulls now in charge, XRP could surge past the first major resistance level at $0.46977 before the end of the day. However, it would need the support of the broader crypto market to rally toward the $0.5067 resistance level for the second time this month. 

The broader market is bearish, and that could affect XRP’s performance in the near term. If that happens, XRP could dip toward the $0.3742 support level over the next few hours. 

Where to buy XRP now

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy XRP with eToro today

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy XRP with Bitstamp today

The post XRP surges by 8% after STASIS integrates Ripple’s XRPL appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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Altcoins

FTX hacker may be a former employee, says Sam Bankman-Fried

Ex-FTX CEO Sam Bankman-Fried said the exchange’s hacker might be a former employee. The crypto exchange lost $650 million in a hack a few hours after it filed for bankruptcy. FTX was prioritising Bahamian withdrawals, SBF added. FTX lost $650 million in a hack after filing for bankruptcy Troubled cryptocurrency exchange FTX revealed that it […]

The post FTX hacker may be a former employee, says Sam Bankman-Fried appeared first on CoinJournal.

  • Ex-FTX CEO Sam Bankman-Fried said the exchange’s hacker might be a former employee.

  • The crypto exchange lost $650 million in a hack a few hours after it filed for bankruptcy.

  • FTX was prioritising Bahamian withdrawals, SBF added.

FTX lost $650 million in a hack after filing for bankruptcy

Troubled cryptocurrency exchange FTX revealed that it lost $650 million in a hack a few hours after filing for bankruptcy

During an exclusive interview with Tiffany Fong a few hours ago, former CEO Sam Bankman-Fried revealed that the hacker might be a former employee. He stated that;

“I’ve narrowed it down to like eight people. I don’t know which one it was. It was either a former FTX employee or someone who installed malware on a former employee’s computer.”

Prior to losing access to FTX’s systems, SBF said he was working hard to determine who moved the hundreds of millions of dollars from FTX’s accounts without company approval. He said;

“I don’t know exactly who because they shut off access to the systems when I was halfway through exploring it.”

FTX had asked the judge handling the bankruptcy case to allow it to hire BitGo to safeguard its assets during the bankruptcy proceedings. This is to ensure that the company’s assets are protected against hacks. 

FTX’s collapse was driven by the sell-off of FTT tokens

He added that the collapse of FTX was driven by a massive sell-off of its FTT token, which was primarily driven by fear. SBF added that FTX was processing withdrawals for its users in the Bahamas since it is the country the crypto exchange was incorporated. He said;

“It was critical to the exchange being able to have a future. You do not want to be in a country with a lot of angry people in it. The pathway forward for FTX involved Bahamians not being pissed at it,”

However, SBF admitted that processing withdrawals for users in the Bahamas and not other places was not a nice move on the part of the cryptocurrency exchange. The former FTX CEO denied allegations that he built a back door into FTX’s system that allowed him to move $10 billion to sister company Alameda Research. He concluded;

“I don’t even know how to code. I literally never opened the codebase for any of FTX.”

The post FTX hacker may be a former employee, says Sam Bankman-Fried appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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