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XRPUSD price seems to be attempting to transform bullish cyphers again yesterday and earlier trading sessions today, although the attempts of bull swings are visible, the minor trend is wedged between a tight range (refer daily chart), where the price behaviour drifts in whipsaws chart pattern that signals the weakness coupled with overbought pressures signalled by the momentum indicators.
The XRP price eased an intraday high of $0.4576 levels at Kraken, following a continuous stretch of linear moves since 17thOct.
Contemplating previous bullish swings, the current trend now has stuck in whipsaws pattern, while both the leading oscillators (RSI & stochastic curves) have been signalling bearish momentum.
Well, the renowned XRP which is the 3rdlargest by market capitalization (according CoinMarketCap) @BankXRP has announced that it is unveiling XRP United, that happens to be the world’s first ever completely XRP-based exchange. The Estonian-based exchange officially went live earlier this week on October 23rd.
The exchange ropes in mainly three crypto pairs, namely, BTCXRP, ETHXRP, and BCHXRP. XMRXRP likely to be added sooner once a Monero wallet is integrated onto the exchange.
Most importantly, please be noted that the fragile cryptocurrency market dynamics are keeping momentum in check following a slither of constructive developments on the adoption and regulatory fronts.
Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -124 levels (which is bearish), while hourly USD spot index was at 54 (bullish) while articulating (at 08:17 GMT). For more details on the index, please refer below weblink:
