XRP price seems to be a big mover over the week since the company saw its token increase by 3 percent when the Asian session opened. Following the latest developments in our altcoin news, we make a broader analysis of the price action.
The XRP/USD dollar exchange rate reached a $0.344 intraday high after being held up in the red zone for the week. The pair boomed with a moderate volume when the traders changed the game as same as they did in the previous session. The XRP price could not have been established as a breakout, therefore. The movement is also considered as a bounce back with higher chances of fading away in the latest trading sessions.
The XRP price recorded a mixed track record as we mentioned in the coming altcoin news. This could be the case since Resona bank, the fifth largest one in Japan, decided not to use MoneyTap which is a Ripple-based blockchain payments service. In the same time, the ripple price increased after Weiss Ratings claimed that the Ripple labs company aims to partner with Skype.
Another announcement that could have impacted the XRP price came from Coinbase. The major San Francisco-based crypto exchange announced to be expanding their services to 11 regions including Hong Kong, India, and Mexico. This could have brought XRP more traders. The altcoin’s market cap is currently hovering around $14.3 billion.
The XRP price downtrend is capped by the 50-period moving average indicator. A slight bounce back could open a good long opportunity towards the 200-period moving average. The analysis shows that we can adjust the interim upside target to about $0.378 which is a tough level historically speaking when talking about bullish attempts.
If the XRP price continues its upwards momentum, everything will be well for the altcoin. If this does not happen however, ripple could face a stop loss order around $0.320 and will leave the market with a small loss.
The current upside action is quite weak. This gives the market a lot of chances to open a short position towards the downside target. The analysts are now waiting for the XRPprice to break below the 50-period MA. If that happens, a short move towards $0.289 will be great news. However, we should expect a stop loss order slightly above the 50-period MA in order to be able to manage risks.
Epic Surge Adds 10% ($25bn.) To Crypto Market Overnight
Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT"The FOMO (fear of missing out) is high after the epic surge which resulted in a lot of gains. When markets are on fire like they are now, it is very possible that the rally will continue, analysts claim.
BSV Price Surges By 33% Due To A Copyright Application
“If Bitcoin or any other monetary system seeks to act outside the rules, it becomes an outlaw system, and once it does, it is easy to stop,” he stated.However, one of the most realistic theories behind the BSV price pump in the latest cryptocurrency news is the one in which Calvin Ayre (Dr. Wright's close associate) claimed that the US copyright office had accepted the scholar's claim of being Satoshi Nakamoto - the mysterious Bitcoin creator. Nonetheless, the authorities later clarified that anybody could claim the same, stating that they do not recognize “anyone for anything.”
BitTorrent Token Surges 20% After Justin Sun Tweets Latest Announcement
BitMex Research Shows BCH Experienced Two-Block Chain Reorganization
“Based on our calculations, around 3,392 BCH may have been successfully double spent in an orchestrated transaction reversal. However, the only victim with respect to these double spent coins could have been the original ‘thief.’”As the BitMex research explains, the three interrelated issues during the hard fork brought up 25 transactions (moving 3,392 BCH) not being into the reorganized chain which led to the double spend effect. As reported in the latest cryptocurrency news, at that time, Bitcoin Satoshi Vision (BSV) blockchain which is a result of the previous BCH hard fork struggled with the large block size and then a series of block reorganizations happened back in April. At the start of this year, In January, a deep reorganization of the Ethereum classic (ETC) blockchain happened as well which also included double spending and $1.1 million worth of crypto was involved. The report states further:
‘’The largest concern from all of this, in our view, is the deliberate and coordinated re-organisation. From one side of the argument, the funds were stolen, therefore the actions were justified in returning the funds to their “rightful owners”, even if it caused some short term disruption. However, the cash like transaction finality is seen by many, or perhaps by some, as the only unique characteristic of these blockchain systems.’’
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