New Exchange Platform For XRP?
Ripple appears to be preparing a new cryptocurrency exchange built on XRP Ledger for the launch. Ripple enjoyed a 10% run in the past 72 hours. The pressure to buy behind it seems to be fueled by speculation about job creation in Ripple. In addition to the recently released benefits, the remittance token faces a major unexpected hurdle that could result in rising prices. Ripple’s XRP token has also risen after the company’s recent job opening has revealed insight into a new exchange platform.
Guessing Increases Around XRP
The number of XRP-related posts on various social networks has increased by a whopping 120% in the last 72 hours. Data reveals that about 7.2 million public records are registered today.
Most importantly, more than 70% of all social media are bullish about the border remittance token. The growing controversy surrounding Altcoin seems to be related to the new job opening in Ripple, suggesting that the company is working on building a new cryptocurrency exchange.
While it remains unclear what the party will do, or when such a platform will be launched, the so-called “XRP army” has already given Ripple a vote of confidence.
Investors appear to be rushing to buy tokens, raising prices by about 10% over the last 72 hours.
Now, the technology pattern suggests that international settlements occupy a very important area.
To the Point of the Major Price Movement
In addition to the recently released benefits, XRP is currently facing a strong consolidation set that could take any further purchasing pressure. This critical obstacle is represented by the upper boundary of the equitable descent station that builds from August with a 50-day moving average (MA).
Rejection from this critical level of resistance can lead to a strong correction in the middle or lower boundary of the channel. But drilling can pull XRP to $ 0.31.
Given the ambiguous view presented by XRP, 50 and 100-day MAs can be used as verification locations. The daily candlelight near the support will add reliability to a state of hopelessness while closing above resistance will signal further gains on the horizon.
The patience level will play an important role in the lookout to benefit from this next important cryptocurrency price movement. Hence it’s a good time to trade in Altcoins. All you need to have is a trading account. The registration process is free and simple to use if you are using Bitdenex. Bitdenex provides an easy platform for customers to trade in crypto currencies. It offers you the opportunity to build your crypto currency portfolio at your own pace and without regular deposit obligations.