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XRP Price: Uptrend may Turn into a Small dip Fairly Soon

For all cryptocurrency markets, the next few hours may prove to be crucial. All of yesterday’s positive market momentum is in the books. Right now, it is time to decide if this trend continues or falls apart entirely. For the time being, things are still looking good for the XRP price. The day has only just begun, though, and a lot can change by this evening.

XRP Price Faces A Tough Battle

All alternative currencies, assets, and tokens will be very reliant on the Bitcoin price in the coming hours. Should the world’s leading cryptocurrency begin losing value, it is expected most altcoins will go down with it. Although the XRP price is still enjoying a positive spell, its momentum has begun to wane a bit.

There is still a 1.79% XRP price increase over the past 24 hours. It is a positive development no one can deny at this stage. Even so, there is still plenty of reason to be relatively concerned about what the future may hold in regards to the XRP price. This current situation is not exactly promising for the long-term, although the day has only just begun.

What is perhaps more worrisome is the XRP/BTC ratio. With no changes to speak of, it will be interesting to see how this aspect evolves. The XRP/BTC ratio has undergone a 0.00% change in the past 24 hours, which is rather unusual. Should this ratio dip in the end, it is to be expected the XRP price will see a strong decline in the hours to follow.

Even though all cryptocurrencies have seen a slight increase in overall trading volume, the same doesn’t necessarily apply to XRP. While $265.726m in 24-hour trading volume is not bad by any means, it is not on par with XRP price speculators’ views at this stage. If a bit more volume can be generated, the XRP price should remain at its current level for at least another day.

Bitbank users show a healthy appetite for XRP as of right now. This company’s JPY pair generates 26% of all trades, which is fairly spectacular. Binance’s BTC and USDT pairs come in second and fourth place, separated by Huobi’s USDT market. HitBTC adds another BTC market to the top five. Although there’s only one fiat currency pair, it does generate a lot of volume, which will prove to be beneficial.

The XRP price will mainly rely on Bitcoin’s value throughout most of the day. Depending on how that particular situation evolves, things will either get very interesting or very worrisome later today. Many people expect the Bitcoin price to surge ahead, although it remains to be seen if that is even possible after yesterday’s major gains.

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Bitcoin Bomb Threats Strike Hong Kong After Debacle In U.S., Canada

Over the past 72 hours, bomb threats attempting to extort Bitcoin (BTC) from business owners and governmental agencies have taken the world by storm, affecting thousands across Canada, the U.S., and New Zealand. Although the threats have begun to recede from the limelight in the western world, the issue may only be getting started across the Pacific Ocean in Asia. Hong Kong Targeted By Bitcoin Bomb Threat According to an exclusive report from the South China Morning Post (SCMP), an English news outlet centered around Asia’s happenings, bomb threats requesting BTC have arrived in the inboxes of a number of Hong Kong firms. As Michael Gazeley, CEO of Network Box, burned the candle on both ends on Friday, he purportedly saw a foreboding message land in his business email, telling the SCMP that he was “shocked.” This message was, of course, a threat from an anonymous group(s) asking for $20,000 U.S. worth of cryptocurrency in an apparent shakedown. If the specified sum, dubbed a “security fee” by the group(s), wasn’t sent to the sender’s address, the terrorists claimed that they would bomb Network Box’s offices. In an interview with the outlet, Gazeley, obviously perturbed by the occurrence noted: “This looks like the third wave of blackmail emails plaguing the world in the past few years… I have never seen something like this, which sounds like cyberterrorism, in my 20-year career in cybersecurity.” Yet, the cybersecurity expert went on to add that he was 99.999 percent confident that the message wasn’t worth its water, so to speak. Gazeley drew attention to the layout, language, and the poor grammar contained within the email — accentuating that this message is nothing more than a poor attempt at a money grab scheme. Hong Kong authorities have yet to comment on this odd Bitcoin-related case, so it remains to be seen how many businesses came under fire. Yet, a representative from the IT branch of Hong Kong’s legislative council lambasted this new scam format, stating that “scammers need to be smarter,” making it clear that such a form of extortion is ineffective and baseless. Canada, U.S. Also Hit With Issue This news comes just days after this same issue struck businesses throughout North America. As reported by NewsBTC previously, on Thursday, a number of places of work, public places, stores, and pertinent landmarks were targeted by the same scam outlined above. Although police departments, namely New York’s, have made it clear that such emails hold no credence, a number of firms purportedly closed up shop as a preemptive security measure. A number of subway stations in Toronto, Canada’s largest city, purportedly shut down operations due to the threat. A community hospital in Hillsboro also decided to temporarily shutter its operations. Per The Verge, even Infinity Ward, the development company behind Call of Duty, had also made a conscious decision to evacuate its headquarters. Seeing that no explosions have occurred at locations targeted, it can be assumed that these threats have lacked legitimacy since day one. Featured Image from Shutterstock The post Bitcoin Bomb Threats Strike Hong Kong After Debacle In U.S., Canada appeared first on NewsBTC.

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