Despite the $1.300 plunge in just two days by Bitcoin BTC against the US Dollar reaching below to $7,000.00, the leader climbed its way back up quickly in the first hours of today’s market performance with the expected level tank of $8,000 in the initial clearing test. Per time of writing the number one ranked coin is increasing for 8.22% with a price of $7,947.33.
Drawing very parallel lines in the weekly pattern, for XRP/USD the resisting level is the important $0.4000 which it has already cleared with the 19th of May value jump. As cryptocurrencies are moving as one, the aforementioned action might have signaled opened gates even for BTC to overcome the next hurdle seeing many altcoins.
Recommended: Could Bitcoin (BTC) Scale Back Even Further? Analyst Thinks Crypto Needs To
- According to Coin Metrics – report released on the 16th of May: there are many differences and discrepancies in the parent company/creator of XRP and blockchain-concentrated startup Ripple escrow service report. Coin Metrics reports finding, “several important discrepancies between what was publicly reported by Ripple and what was visible on the XRP ledger.” [read more]
“Two quarterly markets reports under-reported the number of XRP released from escrow by a total of 200 million XRP ($84 million at current prices)
The “escrow queue” is implemented differently than announced, leading to a faster future release of escrowed funds compared to the announced schedule.”
- With the unveiling of Binance’s whitepaper – there was a mention of “margin trading” presented as part of the “feature rollout”. However, the firm has not spoken about it. Following, a pseudonymous programmer going by enriquejr99 has highlighted that in the code found by the user, Binance has included two booleans named IsSpotTradingAllowed and isMargingTradingAllowed which were disabled. Changpeng Zhao, the chief executive of the exchange, came up to quell the rumors remarking that Binance’s attempts to “future proof” its “API framework” resulted in the margin trading booleans appearing. In a recent Reddit update, the user notes that nine pairs, including BTC-USDT, BNB-BTC, ETH-BTC, TRX-BTC, and XRP-BTC, have margin enabled.