Cryptomarket volatility decreases

February 26, 2019   XRP

The volatility of cryptocurrency assets on Monday was significantly lower than on previous days. The  Bitcoin price practically did not change and was trading around the level of 3840 dollars. Ethereum dropped slightly to $ 138, while XRP, by contrast, added almost 6% and reached $ 0.3250.

Amid a sharp decline in the Bitcoin price, the amount of short positions on the Bitfinex exchange in the BTC / USD pair dropped to March lows. Simultaneously, long positions still prevail over short ones. During the previous week, the price of Bitcoin overcame an important resistance level of $ 4,000, but failed to gain a foothold above this mark.

American cryptocurrency exchange Coinbase has listed XRP to the list of traded currencies. The token will be traded in crosses with bitcoin, dollar and euro. Bidding against USDC, as this, for example, was the case with Zcash, was not declared. Rumors of a possible support for XRP on Coinbase have been rolling on for a longwhile, and recent news has affected positively the price of digital currency, giving it an increase of more than 8%.

A hardfork blockchain platform for the Tron cryptocurrency platform is planned to be held on February 28, which will add new features for institutional clients, such as multi-signature capabilities and account management functionality. At the moment, the Tron token is in ninth place among all cryptocurrencies with a total capitalization of 1.62 billion dollars.

In our forecast for today, we assume a slight increase in Bitcoin to resistance levels of 3870, 3900 and 3950 dollars, strengthening of Ethereum to 140, 142, 145 dollars and an increase in XRP to levels of 0.3250, 0.3300 and 0.3350 dollars.

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