XRP Price Analysis for March, 10th – XRP Has Not Stopped Falling
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
On Tuesday, the XRP remains under pressure, trading at 0.2089 USD, though sales are not full-scale anymore.
On D1, the quotations tested the resistance area and kept declining. The resistance level is at 0.2525 USD. The decline is aiming at the breakout of the last low at 0.1741 USD. On the MACD, there is a Black Cross forming, indicating a potential decline to the psychologically important support level at 100.00.
On H4, the quotations escaped a flat downwards, overcame 76.0% (0.2160 USD) Fibo and keeps drawing the declining channel. A Black Cross on the Stochastic means that the declining impulse is aimed at the low but a pullback from it may follow.
The head of Ripple Brad Garlinghouse keeps criticizing the Bitcoin and all movements connected to it. According to him, the power requirements for mining are too high and harm the ecology. On the other hand, Garlinghouse voice no such critics of the ETH because it is emitted by pre-mining. This algorithm helps save electric energy and, hence, decrease the emission of carbon dioxide. Garlinghouse especially notes that no one assumes responsibility for it because the giants care for making money only.
In the Telegraph publication, it is said that on one BTC transaction, more energy is spent than an average British family spends in two months. According to the journalistic investigation, the possible consequences for the ecology may be compared to the amount of carbon dioxide emitted by such a country as New Zealand.
It is not the first time when the ecological consequences of mining are discussed. A bit earlier, a blockchain expert from PwC Alex de Vries paid attention to them, noting that the BTC transactions, in the end, produce as much carbon dioxide as 780,000 transfers of money via the VISA system.
Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.
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Dmitriy Gurkovskiy, Khareem Sudlow