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XRP fails to cross $0.52

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Ripple price forecast shows that XRP may renew the upside after touching the $0.529 resistance level today.

Ripple forecast stats data:

  • Ripple price now – $0.52
  • Ripple market capitalization – $26 billion
  • Ripple circulating supply – 49.8 billion
  • Total Supply – 99.98 billion
  • Ripple Coinmarketcap Ranking – No. 6

XRP/USD Market

Main levels:

Resistance Levels: $0.60, $0.62, $0.64

Support Levels: $0.46, $0.44, $0.42

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The XRP/USD pair is regaining ground after touching a daily high of $0.529 during the European session today. The Ripple price It is currently trading at $0.520, up slightly by 0.54% since the beginning of the day. Despite the recovery, the coin has not yet crossed the upper boundary of the channel.

Ripple Price Prediction: Will Ripple Price Break To The Upside?

According to the daily chart, the Ripple price It is moving towards the $0.53 resistance level as the initial move above the channel could strengthen the price further. Ripple (XRP) reached a daily high of $0.529 before easing back to where it is currently trading. Considering the above, more bullish moves are likely if Ripple price remains above the 9-day and 21-day moving averages, and the nearest resistance level can be found at $0.55.

However, traders can see that the daily move is still in the hands of the bulls as the RSI (14) appears to move above the 60 level, building on the continued recovery from the downside. However, a breakout to the positive side could likely push the coin towards the potential resistance levels of $0.60, $0.62 and $0.64; Whereas, a dip below the 9-day and 21-day moving averages could lead to support at $0.46, $0.44 and $0.42 respectively.

Against Bitcoin, Ripple is trading well above the 9-day and 21-day moving averages. After touching the daily high at 2714 SAT today, the coin subsequently fell back to where it is currently trading. Meanwhile, the price continues to move sideways while sellers may pressure the market.

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XRPBTC – Daily Chart

Moreover, if the price falls below the moving averages, Ripple price may drop to the 2300 SAT support level and below. Now, the technical indicator’s RSI (14) is floating in the overbought territory, and any further upward movement could reach the resistance level at $3,200 and above.

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Blockchain

Ankr posts $15 million to make users full as Helio stablecoin recovers after exploit

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Stablecoin Helio Protocol, which issues the HAY stablecoin pegged to the US dollar, He said In a Dec. 7 tweet, she said she had bought back $3 million worth of bad debt in HAY so far on the open market. The previous day, the blockchain infrastructure platform Ankr advertiser It will set aside $15 million to buy back bad debts generated from its recent exploitation and the resulting increase in HAY’s trading.

A series of seemingly unrelated incidents occurred on December 2 when a hacker tampered with vulnerabilities in Ankr’s smart contract code and compromised private keys following a technology upgrade. As a result, the hacker mined 20 trillion Ankr Reward Bearing Staked BNB (aBNBc), which was tied to BNB (BNB), and dumped them, with the aBNBc price dropping to less than $2 from about $300.

However, one trader then took advantage of the alleged hard-to-coding of pegged prices between aBNBc and BNB on the Helio protocol. The trader bought 183,885 aBNBc with just 10 BNB and used it as collateral to borrow 16 million HAY, which was then exchanged for 15.5 million USD (BUSD), Achieving a profit of 5,209 times from their original capital.

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After the exploit, HAY lost its peg and fell as low as $0.20 per coin before recouping most of its losses to trade at $0.96 at press time. Immediately after the incident, the Helio team stated that it would buy back the excess HAY and send it to the copy address. Originally, users were able to mint HAY by depositing BNB as collateral of 152%. The total value of the protocol was about $90 million before the accident.