Cryptocurrencies behave relatively bullish during this weekend, especially Ripple, Up 7.6%, ETH, 5.22% and LTC 4.97%. Market capitalisation is currently $271.876 billion, while Bitcoin dominance is at 68.4%.
Below, the heat map for the crypto sector showing the price appreciation since Saturday 17.
What is happening?
Santander will connect Latin America with One Pay FX, a ripple payment corridor. The bank also plans to bring One Pay FX to the US so that US customers could send money abroad. Source: coindesk.com.
Cryptocurrency Lawyer Preston Byrne criticised Vitalik Buterin, Ethereum co-founder, for his tweet praising a project to wrap bitcoin on Ethereum.
It’s not “wrapped BTC on Eth.”
It’s “I spent my BTC to an address I don’t control, and all I got was this lousy exposure to Eth which a trusted third party oracle says is worth 1 BTC.” https://t.co/K4qGZ2nusN
— Preston Byrne (@prestonjbyrne) August 17, 2019
Fidelity Charity arm, Fidelity Charitable, according to the firm’s annual report, has received over $100 million in crypto donations. Source: coindesk.com.
Mastercard is creating a cryptocurrency division. In a recent recruiting post, MC asks “Do you have the desire to work at the cutting-edge intersection of payments and cryptocurrencies?”. Source beincrypto.com.
Bitcoin is consolidating its recent drop. BTC has jumped above the (blue) and is moving inside a triangular structure. Its is still in a and close to overbought.
There is strong resistance at $10,460. A close above it is positive, A close below 9980 means a continuation to the downside. The likelihood of downside is lower than a continuation of the bullish movement, as the bullish trendline is in place and MAD shows bullishness.
XRPUSD had a bullish candle yesterday that has put its price above $0.28, erasing most of the losses incurred on August 14. The price is now touching resistance, with its Stochastics oscillator signalling overbought. The MACD is very bullish though, and the price has crossed up the descending trend line. That would mean a consolidation period instead of a new drop.
Ethereum has bounced but still not above the descending trendline. MACD is bullish, but the Stochastics indicator shows some consolidation is needed before move upside moves.
Litecoin’s Bounce does not violate the descending trendline. The MACD is in a bullish state and the Stochastics in the overbought zone. The price bounced off of the $78.5 resistance level. A breach above that level may take the price to $83. A close below 75,75 would indicate more declines.