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Aussie Steals Over 100,000 XRP – Ripple Signals a New Rally

SAN FRANCISCO, California – Australian women spends her time in jail after transferring stolen XRP worth 100,000. Ripple rises again after establishing significant support over $0.28 against the United States or the US dollar. Price trades over $0.30.

As per Information Age’s report, an Australian news outlet, Kathryn Nguyen, a 25-year-old Aussie, received a sentence from Judge Chris Craigie, and it will last for two years and three months. The reason is for hacking the digital wallet of a victim. She got more than 100,000 XRP units.

Nguyen and an associate penetrated an older man’s digital asset, 56 years old, and she got the funds after exchanging the two-factor authentication of the older man to her mobile phone. After that, she transferred the XRP she stole to an unidentified exchange, and it’s where she exchanged these for Bitcoin. Lastly, she distributed the funds across different digital wallets.

The funds’ worth is below USD 30,000. However, she exchanged these at the peak of the digital asset in the year 2018, as per the report. It was back when it’s up to $300,000.

Judge Craigie stated that it was an “out of character” crime. The judge also said that Nguyen’s “moral judgement was distorted” at one time.

After a 12-month analysis, the police raided the house of Nguyen in a suburb in Sydney, Epping, last year. They seized her mobile phones, computers, and money.

Matthew Craft, the Detective Superintendent, stated that it’s a cyber-connected. It’s a national issue, and it’s not only happening in New South Wales’s state.

As per the report of Age, Nguyen is the first Aussie to face charges due to cryptocurrency-theft.

As for Ripple, this digital asset found support close to the price level of $0.2800 after a substantial downside correction. The price began a steady increase over the resistance-levels of $0.2850 and $0.2920.

The upward movement was optimistic, and it had a close over the $0.2920-price level. The XRP price is exchanging over the 100 SMA or simple moving average. Also, there’s a break over the 50% Fib retracement level with a downward movement. It’s from a $0.3200-swing to $0.2789-swing low.

Most prominently, there’s a break over the significant bearish trend line, and it has a resistance level close to $0.2990 on the XRP/USD pair. The pair is exchanging over the $0.3000-price level.

The next resistance level is close to the $0.3050-level. It’s near to the 61.8% Fib retracement level with a downward movement, from $0.3200 to $0.2789. The successful break over the $0.3050-price level might open opportunities for more increases over the price levels of $0.3120 and $0.3150.

The main problem is close to the $0.3200-price level. The bulls are probable to target a more significant rally in the future to the price levels of $0.3500 to $0.3600.

The first chief support is close to the price level of $0.2920 on the downside. There would be a bearish wave-risk if Ripple didn’t succeed in continuing over $0.3050.

The significant support is close to the price level of $0.2800. The price might begin a stable decline to the $0.2650 level.

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Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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