XRP Price Analysis – August 7

  • The price is likely to find support at the $0.37 and $0.32 lows.
  • The XRP price broke the support at $0.43 and it's reaching the $0.40 low.

Ripple, LTCUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bearish

Supply levels: $0.39, $0.40, $0.41                                     

Demand levels: $0.38, $0.37, $0.36  

Yesterday, the XRP price was in a bearish trend. We saw how it broke the support level at $0.43 on three occasions and it pulled back on each occasion. We are waiting to see how the bears would break the level at $0.43 and sustain their bearish status. Today, the XRP price has finally broken the support level at $0.43 of the lower range-bound zone.

The price is likely to find support at the $0.37 and $0.32 lows, if the bearish pressure continues. Traders are advised to initiate long trades at the end of the bearish pressure. Nevertheless, the MACD line and the signal line are below the zero line which indicates a buy signal.  Also, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that the bearish pressure continues.

XRPUSD Short-term Trend: Bearish 

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

The 4-hour chart shows that the XRP price is in a downward trend. The XRP price has broken the support at $0.43 and it'is reaching the $0.41 low. Meanwhile, the XRP price is below the 12-day EMA and the 26-day which indicates that the bearish trend is ongoing.   Nevertheless, the Relative Strength Index period 14 is level 28 which indicates that the market is oversold suggesting that the bulls will take control of the market.         

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.  

Binance US Says It Will List NANO, Price Surges

Binance.US, Binance's trading platform for customers based in the U.S., announced on Thursday (November 14) that it is going to add support for one more cryptoasset: NANO.

Binance.US, which was launched in September 2019, is a digital asset exchange that is "powered by matching engine and wallet technologies" licensed from Binance but is operated by San Francisco-based BAM Trading Services.

Other cryptoassets that Binance.US has listed in the past few weeks include:

  • November 14: Qtum (QTUM)
  • November 7: VeChain (VET)
  • October 29: Waves (WAVES)
  • October 24: Dogecoin (DOGE)
  • October 22: BUSD and IOTA
  • October 17: Algorand (ALGO) and Zcash (ZEC)
  • October 15: Dash (DASH)
  • October 10: Chainlink (LINK) and Ravencoin (RVN)

The new trading pair—NAN/USD—is set to go live at 21:00 EST on 21 November 2019 (or 02:00 UTC on 22 November 2019).  Only once trading in this pair has gone live will withdrawals be possible.

This latest addition means that by tomorrow Binance.US will have the following trading pairs on offer:

  • BTC Pairs: ETH/BTC, XRP/BTC, BNB/BTC, LTC/BTC, BCH/BTC, and BTC/BUS.
  • USD Pairs: BTC/USD, ETH/USD, XRP/USD, BCH/USD, LTC/USD, BNB/USD, USDT/USD, ADA/USD, BAT/USD, ETC/USD, XLM/USD, ZRX/USD, LINK/USD, RVN/USD, DASH/USD, ALGO/USD, ZEC/USD, BUSD/USD, IOTA/USD, DOGE/USD, WAVES/USD, NEO/USD, ATOM/USD, QTUM/USD, and NANO/USD.
  • USDT Pairs: BTC/USDT, ETH/USDT, XRP/USDT, BCH/USDT, LTC/USDT, BNB/USDT, ADA/USDT, BAT/USDT, ETC/USDT, XLM/USDT, ZRX/USDT, NEO/USDT, ATOM/USDT, VET/USDT, and QTUM/USDT.

This news seems to have helped the price of NANO. According to CryptoCompare, at the time of writing, NANO is trading at $0.9048, up lmost 5% in the past 24-hour period:

NANO- 24 HOUR CC CHART - 20 NOV 2019.png

 

Featured Image Credit: Photo via Pixabay.com