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Ripple (XRP) Price Showing Positive Signs: ETH, BTC Gaining Strength

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Ripple price traded higher recently and broke the $0.3950 and $0.4120 resistances against the US dollar.The price tested the $0.4200 resistance area and it is currently correcting gains.There is a connecting bullish trend line forming with support at $0.3850 on the hourly chart of the XRP/USD pair (data source from Kraken).The pair remains supported on dips and it could bounce back after testing the $0.3980 or $0.3950 support.Ripple price is showing positive signs above $0.3950 against the US Dollar, while declining vs bitcoin. XRP remains well bid and dips are likely to present buying opportunities.Ripple Price AnalysisAfter forming a strong support base above the $0.3660 level, ripple price climbed higher against the US Dollar. The XRP/USD pair traded above a couple of important resistances near the $0.3800 and $0.3850 levels. The price moved into a positive zone above the $0.3920 level. There was a close above the $0.3950 level and the 100 hourly simple moving average. Besides, there was a break above a declining channel at $0.3860 to start the recent upward move.Finally, the price broke the $0.4000 and $0.4120 resistance levels. It traded as high as $0.4205 and it is currently correcting gains. It tested the $0.4080 level and the 23.6% Fib retracement level of the recent wave from the $0.3766 low to $0.4205 high. On the downside, there are many supports near the $0.4000, $0.3980 and $0.3950 levels. Moreover, the 50% Fib retracement level of the recent wave from the $0.3766 low to $0.4205 high is near the $0.3985 level to act as a strong support.Therefore, if the price continues to move down, it could find support near $0.4000 or $0.3950. Moreover, there is a connecting bullish trend line forming with support at $0.3850 on the hourly chart of the XRP/USD pair. On the upside, an initial resistance is near the $0.4150 level, followed by the $0.4200 zone. A successful break above the $0.4205 high might clear the path for more gains towards the $0.4250 and $0.4320 in the coming sessions.Ripple Price Analysis XRP ChartLooking at the chart, ripple price is clearly trading with a positive angle above the $0.3950. In the short term, there could be range moves above $0.3980 or $0.3950. However, the correction could complete near $0.4000 or $0.3950 before a fresh increase. On the upside, the bulls are likely to take control above the $0.4200 pivot zone.Technical IndicatorsHourly MACD – The MACD for XRP/USD is currently gaining strength in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently correcting lower from the overbought zone to 65.Major Support Levels – $0.4000, $0.3980 and $0.3950.Major Resistance Levels – $0.4150, $0.4200 and $0.4320.

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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