Moderate Volatility on the Market Indicates High InterestOct 21, 2019
The previous week was full of important events, increasing trading activity for most cryptocurrencies. Moderate volatility is the best market condition to profit. Currently, traders and investors can wait out short-term drawdowns with some currencies, while taking profits with others.
Note, that despite good growth on the week’s last trading day, Bitcoin and Ethereum ended the week in the red zone. Also, despite the weakening of BTC, the dominance index rose slightly from last week lows.
The growth leaders were BSV with +9.7% and XRP with +1.5%. According to CoinMarketCap, market capitalization still exceeds the $ 222.6B mark. At the same time, the Crypto Total Market Cap index by TradingView, is kept above the psychological level of $200B, which indicates the market’s will to resume growth.
BNB/USDT Is Ready for Further Growth
The BNB token received support after the blog post publication, whether BNB Token is a tokenized security or utility token.
Binance noted more than 120 uses of BNB, indicating a fairly active development and distribution. As a result, investors have one more reason to believe in BNB, while continuing to invest in it.
After testing the resistance point at around 19.00, the buyers’ activity has noticeably decreased. So, a triangle technical analysis figure was formed against the backdrop of sellers’ weakness. A breakdown of the marked figure’s upper border will confirm the buyers’ will to resume growth by 20.00 and further by 21.00.
The bullish scenario will be implemented in a case of a general improvement of the cryptocurrency market’s mood and some new portion of the good news for BNB. Nevertheless, you don’t have to wait long, because CZ regularly shares the achievements and plans of Binance.
XRP/USDT on the Way to the 32.00-33.50 Area
An upward price channel is clearly visible on the daily XRP/USDT price chart, indicating the buyers’ advantage. We also draw attention to the fact that quotes managed to overcome the resistance at around 28.00 point.
Among the growth drivers for XRP, we note the addition of Ripple XRP to the SafePal hardware wallet, which is designed for convenient and safe cryptocurrency management. SafePal now supports over 1,500 cryptocurrencies, including BTC, ETH, LTC and BNB.
Let’s check together a number of really good news for XRP investors:
- IndusInd Bank will facilitate the cross-border mission of Ripple. At a recent economic forum, Indusind Bank representative spoke about the benefits of working with Ripple. According to Indusind Bank employee, cooperation with Ripple was launched to take cross-border operations to a new level and add smoothness to them. As a result, this led to a merger with several other large banks.
- Ripple Xpring talked about a new platform for developers. This platform is designed to provide companies with tools for easy integration of payment crypto solutions.This new Ripple Xpring platform may resemble Amazon Web Services in some aspects. The Ripple Xpring representative added that the project is intended not only for blockchain and crypto developers, but for wide auditory as well.
- Another good news for XRP investors is that Ripple Xpring is investing to the Towo Labs Swedish startup, which is developing a self-supporting cryptocurrency technology. Ripple Xpring’s investment will be used to support the Towo Labs project roadmap over the next two years. The investments also includes the development of paper wallet hardware that supports all types of Ripple XRP Ledger transactions. In addition, the company is also developing a new version of the XRP Toolkit, a web interface for interacting with the Ripple XRP Ledger.
All this news indicates further XRP/USDT growth potential, which may increase in the case of a general cryptocurrency market improvement.