Today we had a positive start for Bitcoin, although the movements were insignificant. Overall, the volatility decreases and Bitcoin moves within some narrow ranges.
As far as the news is concerned, there was no important title to influence the crypto market yesterday. While I still wonder if the White House news of concern over China’s influence and the holding of Bitcoin will affect the SEC’s decision on the 9 applications for the Bitcoin ETF.
We have already seen that the US president is trying to influence the Fed, even though it has an impact on OPEC. That is why we need to think that its impact on the SEC’s ETF decision will be a much simpler task for it if it becomes necessary. So if we have some conversation from Trump’s oval office and tweets, it is possible to expect some downward pressure on the market.
But one of all the key crypto Lights stands out for weeks with pretty positive moods in trade, and that’s Ripple’s XRP.
The XRP Technical Picture
Ripple’s XRP gained 5.19% on Tuesday, following a 12.32% rally on Monday to finish the day at $ 0.4852. Ripple’s cryptography has been rising for the third consecutive day, despite the downturn in the digital asset market.
Maybe you will ask what the whole height is due to? Ripple’s chief strategist, Cory Johnson, in an interview with the Crypto-focused Media Breaker, generates a lot of “buzz” in the community. The manager hinted that the company is conducting many discussions with regulators and governments demonstrating the benefits of XRP, the Ripple digital coin. He also stressed that the Trump administration was genuinely interested in cryptoLooks and block technology because he had asked him many questions on the subject.
According to Mr. Johnson, the White House is interested in cryptoLuts, and in particular by XRP. Especially because XRP does not require digging, which is beneficial from the point of view of environmental prospects and external control. In addition, the Trump administration can use XRP to oppose China’s dominance on the BTC market.
Clearly technical, the upward pressure may extend to the next resistance, which is at $ 0.4900. A clear breakthrough over it will take the test price last week to $ 0.5K. This is also the place I think is likely to show interest in new sales.
Failure to break and move over that area, including the morning peak of 0.4977, may cause XRP heavier losses later in the day. Indeed, after two consecutive winning days, Ripple’s XRP can be hit hard in the event of ubiquitous reversals. It is possible to drop to 0.4758 dollars before the round support 0.47. The next more solid level of support is seen in the area of $ 0.3990, the bottom of October 15, 2018 before the rally.
Author: Silvia Velcheva
* The views expressed in this material do not constitute a recommendation or advice for the purchase or sale of cryptographic data in the digital assets market or other financial instruments. The predicted predictions meet the expectations of the author of the material and may not materialize. Trading in currencies, contracts for marginal or crypto-lingual contracts poses a high risk and may not be suitable for all investors. Past results are not a guarantee of future success.