Cryptocurrency Brief: Bitcoin recovers from panic sell-off, Bithumb to sell 38 pct stake, Ripple to ink partnership with SWIFT – Friday, October 12th, 2018

BTC/USD: Bitcoin prices recovered across the board during late European session Friday, after suffering heavily yesterday, following slight short-covering. Market participants are awaiting the United States’ Securities and Exchange Commission’s decision on the Bitcoin ETF, due on October 26. At the time of writing, BTC/USD rose 1 percent to $6,317.80, reversing some of its losses seen Thursday. Meanwhile, the near-term support is seen at $6,200.00 and resistance at $6,769.00.

Market Update: According to a report from CryptoGlobe, South Korea’s leading cryptocurrency exchange Bithumb is to sell 38 percent of its ownership stake to Singapore-based blockchain consortium group. The deal is likely to be finalized by December 12 and involves purchasing shares from 10 different Bithumb shareholders.

ETH/USD: In line with Bitcoin prices, Ethereum also recovered, rising over 3 percent during Friday’s afternoon trade; the day’s high was seen at $201.82 and low at $189.50. At the time of writing, ETH/USD jumped nearly 3.50 percent to 197.75. Meanwhile, the near-term support is seen at $188.00 and resistance at $225.00.

XRP/USD: After having witnessed a steep plunge on Thursday, Ripple prices rebounded over half of the previous losses, gaining the most among all major digital coins. At the time of writing, XRP/USD jumped 11.52 percent to $0.42689. Meanwhile, the near-term support is seen at $0.3700 and resistance at $0.4600.

Market Update: According to a report from CCN, the Ripple company is heading towards forming a partnership with SWIFT, a global banking protocol. Spain-based Santander, one of the Ripple’s partners, has partnered with SWIFT to expand its banking services to Argentina, Poland, Spain, and the United Kingdom. Ripple is scheduled to attend SWIFT’s SIBOS 2018 Conference this year where both the payment protocol organizations could enter an agreement.

BCH/USD: Bitcoin Cash matched footprints with its immediate peers, surging in the aftermath of the large sell-off seen in the past day. At the time of writing, BCH/USD climbed nearly 3.50 percent to $448.80. Meanwhile, the near-term support is seen at $430.00 and resistance at $470.00.

EOS/USD: Nothing different, the EOS also climbed Friday, tracking its peers as investors emerged out of yesterday’s panic sell-off. At the time of writing, EOS/USD traded 2.45 percent higher at $5.2138. Meanwhile, the near-term support is seen at $5.00 and resistance at $5.50.

LTC/USD: Litecoin also matched its peers, keeping up the green trading, in a widespread recovery across all cryptocurrency trading. At the time of writing, LTC/USD surged 3.02 percent to trade at $52.817. Meanwhile, the near-term support is seen at $50.00 and resistance at $58.00.