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) $10,781.20 (-1.12%)
  • Ethereum (ETH) $358.53 (-0.57%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $228.71 (-1.26%)
  • Binance Coin (BNB) $28.72 (+7.62%)
  • Bitcoin (BTC) $10,781.20 (-1.12%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.