Ripple: recent news bring the value to +10%
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Ripple: recent news bring the value to +10%

By Federico Izzi - 18 Jun 2019

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The news of the agreement with MoneyGram that seems to have invested $50 million to use XRP in transfers, has caused the value of Ripple to jump by +10% during the night, surpassing 46 cents, a level tested several times since mid-May but that so far has rejected upward attacks.

XRP chart by Tradingview

The Ripple value thus remains below 50 cents. It will be interesting to know if this news will give impetus beyond this level that has been insurmountable for several months, or more precisely since mid-November 2018.

A market on the rise

The movement that began at the weekend extended in particular between Sunday and Monday, giving the signal of a return of bullish momentum. The volumes generated in these 72 hours are above the average of the last two weeks.

Today Facebook will publish a whitepaper that has been attracting attention for some time, it is related to the launch of the cryptocurrency during the first quarter of next year. This certainly attracts attention and volume.

Source: COIN360.com

Today, 65% of cryptocurrencies are in positive territory. The best rise of the day is that of Chainlink (LINK), which returns to grow and set a new record for 2019. Moreover, in order to see prices above the $2 threshold, it has achieved an increase of over 65% in a week, following the agreement it reached with the oracles managed by the Google platform.

ZCash (ZEC) is among the best of the day and, with the release of the new Zebra client, it has recorded a daily rise of around 10%, which, added to the bullish movement of recent days, records an increase of 30% from the relative lows reached on June 11th.

Among the best of the day are also Bitcoin Diamond (BCD) and Bitcoin Satoshi Vision (BSV), both up 8%. Bitcoin today is at $9,200 and fluctuates around parity on yesterday’s levels. Even Ethereum (ETH) has a very good day with excellent increases.

Capitalisation is back close to $290 billion, a level that has not been seen since August 2018. All this, benefits in particular bitcoin which gains a fraction of the percentage with the dominance rising to 57.2%. Ethereum, however, has difficulties in reaching the 10% threshold.

The rise in the Ripple value of the last few hours (+3% on a daily basis) has gained some decimal fraction of market share, rising from 6.3% to 6.6% in the last few hours.

Bitcoin chart by Tradingview

Bitcoin (BTC) news

Bitcoin continues to climb, setting a new record in 2019. In recent hours, BTC has reached $9,500, an upward trend that no longer seems to stop.

Since the levels of April, bitcoin has risen 125%. At the moment there are no signs of weakness, on the contrary, the value is sustained by good volumes of purchases, higher than in recent weeks.

Ethereum chart by Tradingview

The value of Ethereum (ETH)

Ethereum maintains a bullish trend, but still lacks upward confirmations with the breakage over 280 dollars. Technically the hypothesis of the head and shoulder bearish still remains valid on Ethereum, which, however, requires a movement under 230 dollars to happen.

In such a phase it is necessary for Ethereum not to return below $255. The critical threshold that would trigger selling and speculation is that of 230 dollars.

All this would be cancelled out by a push towards 290 dollars, the highest for the year recorded between May 30th and 31st. An extension over $290 would trigger purchases towards the $300 quota.

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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