Copy link
Increase text size
Decrease text size
Link copied

Crypto Technicals: Ripple (XRP) soars after partnership with National Bank of Egypt, hits 7-month high above $0.33

Thu, 13 Feb 2020, 05:45 am UTC

XRP/USD chart - Trading View

Exchange - Kraken

Technical Analysis: Strongly Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Overbought

Volatility: High and Rising

Support: 0.3018 (38.2% Fib); Resistance: 0.3413 (50% Fib)

XRP/USD spikes higher for the second straight session after news of National Bank of Egypt's partnership with RippleNet.

National Bank of Egypt (NBE), largest bank in Egypt in terms of total assets, joined RippleNet to tap into the offered remittance services.

NBE co-operation agreement is “a first of its kind” among the commercial banks in Egypt.

The pair is extending previous session's surge, breaks above 0.33 mark to hit 7-month highs.

XRP/USD was trading at 0.3282 at around 05:30 GMT, erasing some gains from session highs at 0.3369.

Price action has broken stiff resistance at 55W EMA at 0.3003 and is on track to test 50% Fib at 0.3413.

Major and minor trend have turned bullish on the daily charts and technical indicators are bias higher.

Scope for test of 0.38 levels (nearly converged 110W EMA and 61.8% Fib). Retrace below 200-DMA negates bullish bias.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,127.60 (+3.72%)
  • Ethereum (ETH) $279.43 (+3.31%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $412.85 (+3.12%)
  • Bitcoin SV (BSV) $306.83 (+1.81%)
  • Bitcoin (BTC) $10,127.60 (+3.72%)
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
US Presidential candidate Michael Bloomberg proposes crypto regulatory framework
IRS invites crypto firms to discuss cryptocurrencies and related issues
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Banking giant Citi backs blockchain trade finance network Contour
Bank of Korea to develop blockchain-based bond management system
Northern Data, Canaan partner to cooperate on AI, blockchain and datacenter operations
Crypto Technicals: ETH/USD closes above 5-DMA, set to resume bullish momentum
Nebulous launches blockchain-powered file sharing platform ‘Skynet’
Crypto Technicals: BTC/USD consolidates previous session's spike, 'Golden Cross' keeps scope for further upside
Crypto finance firm Amber raises $28M in Series A funding
China upgrades national PPP information platform to use blockchain, AI and big data
Feb 18, 2020 (Tuesday)
Enjin’s game development platform goes live on ethereum
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Boerse Stuttgart's blocknox to offer crypto custody services to institutional clients
Crypto derivatives exchange Deribit lists daily ether options
UEFA EURO 2020 tickets to be distributed using blockchain-based ticketing system
South Korean and Singaporean crypto exchanges partner to develop new services
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.