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Rіррlе Prісе Technical Anаlуѕіѕ – Iѕ this Bearish Brеаk іn XRP/USD?

Key Hіghlіghtѕ

  • Rіррlе рrісе іѕ ѕtrugglіng tо move аbоvе thе $1.0250 lеvеl аgаіnѕt the US dollar.
  • There was a break bеlоw a key bullish trеnd lіnе with ѕuрроrt аt $0.9830 оn the hourly сhаrt оf thе XRP/USD раіr (data source frоm SіmрlеFx).
  • The раіr соuld dесlіnе further tоwаrdѕ thе $0.9200 and $0.9000 ѕuрроrt lеvеlѕ іn the near tеrm.

Ripple рrісе is ѕlоwlу following a dесlіnіng path аgаіnѕt the US Dollar and Bіtсоіn. XRP/USD mау соrrесt a few points lоwеr wіth support near $0.9200 and $0.9000.


Rіррlе Price Trеnd

Rесеntlу, wе ѕаw a ѕtеаdу uрtrеnd in Rіррlе рrісе аbоvе thе $0.8500 lеvеl аgаіnѕt the US Dollar. The рrісе mоvеd аbоvе thе $0.9000 аnd $0.9500 resistance lеvеlѕ. It аlѕо trаdеd аbоvе thе $1.0000 lеvеl аnd $1.0200. Hоwеvеr, іt соuld nоt gаіn momentum аbоvе thе $1.0250 lеvеl аnd later ѕtаrtеd a dоwnѕіdе mоvе. It mоvеd bеlоw thе 23.6% Fіb retracement level of the lаѕt wаvе frоm thе $0.8398 low tо $1.0268 high.

More іmроrtаntlу, there wаѕ a brеаk bеlоw a kеу bullіѕh trеnd lіnе wіth support аt $0.9830 оn thе hourly chart of thе XRP/USD раіr. It ѕееmѕ lіkе the раіr mау dесlіnе furthеr аѕ long аѕ іt іѕ below $1.0000. Thе nеxt major support оn thе dоwnѕіdе is around thе 50% Fіb retracement lеvеl of thе lаѕt wаvе from thе $0.8398 low tо $1.0268 hіgh аt $0.9333. Moreover, the 100 hоurlу simple moving аvеrаgе іѕ роѕіtіоnеd nеаr $0.9200. Thеrеfоrе, the $0.9200 level is likely tо асt as a dесеnt ѕuрроrt.

Bеlоw $0.9200, thе $0.9000 lеvеl could рrоvіdе support. On thе upside, thе price hаѕ tо ѕеttlе аbоvе $1.0000 аnd brеаk thе $1.0250 resistance to gain upside momentum іn the nеаr tеrm.


Lооkіng аt the tесhnісаl іndісаtоrѕ:

Hоurlу MACD – Thе MACD for XRP/USD іѕ mоѕtlу flаt wіth a fеw bеаrіѕh signs.

Hоurlу RSI (Relative Strеngth Index) – Thе RSI fоr XRP/USD hаѕ juѕt moved bеlоw thе 50 lеvеl.

Major Support Lеvеl – $0.9200

Mаjоr Rеѕіѕtаnсе Lеvеl – $1.0250

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Bitcoin Price Stabilizes At $6,500, Tokens Record 50% Gains

The price of Bitcoin is again swiveling around the $6,500 which is not necessarily a bad thing – especially not after the recent market downturn. Over the past 24 hours, it seems like the BTC price is quite stable.

In other news, tokens such as VeChain, Ontology, and PundiX all recorded 50% gains which made them one-day winners as the crypto market recovered and Bitcoin showed some decent stability.

The biggest surge was recorded by VeChain, which spiked by over 50% against the US dollar and became the best performing digital asset during the week. This is mainly due to investors and their reallocation of the funds from major digital assets like Bitcoin and Ethereum to tokens like Ontology, VeChain, ICON, Pundi X, Nano, and Waltonchain, all in order to push the market valuation up.

The large spike in the price of tokens is definitely a sign of confidence of investors in the market. On the other hand, the positive developments in the crypto sector such as the introduction of the Tracker One Bitcoin ETN to US markets, the high probability of the approval of the CBOE Bitcoin ETF as well as the creation of BAKKT by ICE, New York Stock Exchange, Microsoft and Starbucks all seem to have an impact on the market.

Right now, the ideal scenario is for Bitcoin to remain stable in the $6,000 region. As such, it would establish a solid foundation for a big rally in the short-term.

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VeChain (VET) Rises By 30% In A New Widespread Market Recovery

The price of VeChain (VET), which is one of the altcoins that are currently in the news for surging, has recently exploded and rose by more than 30% in what the analysts describe as a major widespread recovery on the market.

This recovery raised the cryptocurrency market cap by more than $5 billion over the past 24 hours – but also brought VeChain to the much-expected $0.010 threshold. The altcoin was previously struggling to secure momentum below $0.008 – and it rose to as high as $0.012 during the intraday trading before settling back to its price of $0.01 on Binance.

Still, the price of VET is down 7% against the dollar over the past week – which is another proof of how serious the recent crypto market crash was. Still, things are looking good now for the altcoin – which is now ranked in the top 20 with seven-day returns comparable to Monero (XRM) and Ethereum Classic (ETC) – both of which altcoins that rose over the past few days.

Even though there is no official confirmation or link on why the price of VET rose by 30%, Vechain trading is centralized on Binance, the leading cryptocurrency exchange out there. On it, users can trade the VET/BTC, VET/USDT, VET/ETH, and VET/BNB pairs which all account for 92% of the total VeChain trading. The other exchange platforms where you can buy and sell VET include LBank, and Kucoin.

With a market cap of $571 million, VeChain is now propelling to the 20th position in the cryptocurrency rankings, coming closer to the 19th-ranked ZCash.

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‘Toshi’ Becomes ‘Coinbase Wallet’: Coinbase Changes The Name Of Its Wallet

The open source DApp browser and wallet which has been designed by Coinbase is now officially changing its name. From now on, the old ‘Toshi’ will be known as ‘Coinbase Wallet’.

The company announced the news in a Medium post this Wednesday. In it, Coinbase said that the name change will align with the branding of the company – but also will build authority and push more investments that may shape the future of the decentralized web.



The wallet which was launched last year and inspired by mobile money apps like WeChat is also getting a new user interface.

According to the Product Lead at (former) Toshi, Siddharth Coelho-Prabhu, the Toshi app would “upgrade to Coinbase Wallet” shortly and users can look forward at the “same product” with a new and enhanced look.

There will be some upgrades made to the app – in which Coinbase Wallet is expected to serve as a home for “exploring the decentralized web” and all the possibilities coming along with it. Aside from managing Ethereum and ERC-20 tokens (which was possible on Toshi), the new Coinbase Wallet will also support Bitcoin, Bitcoin Cash as well as Litecoin.

Users on the Coinbase Wallet will be able to receive ICO tokens, airdrops and access leading exchanges directly from it – or store their crypto collectibles. When it comes to security, Coinbase said that the new wallet will be equipped with the “best-in-class secure storage” which will secure private keys using the “Secure Enclave of each device and biometric authentication technology”.

In the end, Coinbase’s plans are to make the new Coinbase Wallet an all-around wallet so that users can be confident in storing their crypto and “explore the universe of third-party dApps”. It will make everything possible – from taking out loans to completing tasks – all in exchange for crypto payments.


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Ethereum Classic Surges After Coinbase Listing Announcement

Ethereum Classic just rose 15% ahead of its Coinbase listing. The altcoin recorded gains two days in a row. After Wednesday’s 20% gains, it is now trading at around $14 on Bitfinex.

The surge in price follows Coinbase’s announcement in which the leading exchange officially listed ETC as available for purchase and trading on the platform. Ethereum Classic will actually be listed today (Thursday) at 5PM PST.

After the two-month high which saw ETC climb to $18.50 earlier this month, the price dropped with the recent market crash. However, it seems like Ethereum Classic is recovering well – and the listing on Robinhood also had an effect in boosting its price.

The entire price frenzy started when the rumors about Ethereum Classic being listed on Coinbase began, which happened a few weeks ago. Throughout mid-June, the price of ETC almost reached $20 but fluctuated around $17, falling as low as $11 with the market crash.

ETC has had an all-time high of $45.51 in December 2017 and will hopefully climb to that point again this year, according to analysts. However, the theory of a massive dump is still a possibility – which is why traders need to be cautious. The price should creep up to its pre-listing levels and eventually stabilize in the short to mid-term.

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