3 Crypto News:
Cryptocurrencies gain momentum as institutions continue to invest in the technology and the exchanges
1- XRP/USD
Ripple continues to trade inside the range of $0.87 and $1.74 with a downward bias. If the cryptocurrency breaks down of $1.09 levels, a fall to the lower end of the range is likely.
The XRP/USD pair is struggling to find any buyers. Therefore, we should wait for the cryptocurrency to bounce off the $0.87 lows before initiating any long positions.The probable bearish crossover of the 20-day EMA and the 50-day SMA is another negative sign. We anticipate the range-bound trading action to continue for the next few days.
2- Investor pumps $57.5 million into exchange for Ripple purchases
Greg Kidd, an early investor in Coinbase and Twitter, has just sunk close to $58 million into online exchange Uphold in order for it to integrate with Ripple, sell Ripple tokens and boost its cash reserves in case of hacks.Kidd was both a former regulator and Ripple’s chief risk officer and believes Uphold has the ability to be the sector leader in currency
exchanges.
3- Ripple may be one of the hottest cryptocurrencies on the block(chain!),
but the Ripple price has taken a bit of a kicking recently. This highly tipped digital currency had reached a high point in excess of $3, but has receded in the last few days to little more than $1.20.The Ripple price has very much reflected the cryptocurrency niche as a whole, with both Bitcoin and Ethereum also struggling against market forces. The market capitalization of Ripple has also fallen to $46 billion, which is almost half of its peak in this department.
Plus points
However, there are some plus points for the future direction of the Ripple price. French Crédit Agricoleintends to test the cryptocurrency system and blockchain associated with Ripple, with the intention of “speed[ing] up cross-border credit transfers carried out by its customers working abroad.” The bank has already indicated that the test will last six months, with responsibility being taken by Crédit Agricole Payment Services.Further details have also been revealed, with the bank noting that the new arrangement “will cover salary transfers in Swiss francs for some cross-border customers, between regional bank Crédit Agricole des Savoie and Swiss bank Crédit Agricole Next Bank.”Although this will be a long-term project for the bank, an update has been promised at the Paris Fintech forum, which will take place on January 30. Certainly the long-term upside for the Ripple price is reliant on the cryptocurrency being accepted by the mainstream financial system, with its blockchain viewed as a very useful mechanism of exchange.
Sources: http://www.valuewalk.com , https://cointelegraph.com & https://www.express.co.uk
