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Price predictions

Main cryptoassets continued to grow

20 Feb 2019   #Ethereum

The main cryptocurrency assets continued to grow in price on Tuesday, although not as actively as the day before. The rate of Bitcoin reached the level of 3970 dollars, Ethereum traded unchanged at the mark of 147 dollars, and XRP reached the level of 0.3350 dollars.

Since the end of the previous week, the cost of the first digital currency added more than 5% and came close to the key level of 4,000 dollars. In the coming days, we can expect to overcome this resistance and attempts to consolidate higher. Volumes in the second level network of Lightning Network exceeded 700 Bitcoin. Lightning Network is one of the most crucial solutions for scaling Bitcoin, reducing transaction fees and increasing privacy. A number of experts are convinced that this technology will lead to a massive adoption of cryptocurrency.

President of the Japanese financial holding SBI Holdings said that the bank will support the startup Ripple and maximize its efforts to use XRP. In his opinion, it is XRP that can become the main cryptocurrency, since Ripple technologies allow for fast and inexpensive cross-border transfers. Also, the second largest bank in Oman announced yesterday the start of using RippleNet technology for international remittances to India. This solution allows you to transfer from India to Oman and vice versa in less than two minutes. Recently, another largest investment bank JPMorgan announced the creation of its own cryptocurrency, which can become a competitor to the XRP token, as it aims to solve the same problem. Probably we are going to see increased competition in this sector very soon, which will positively affect the quality of technology and the adoption of cryptocurrency by the population.

In our forecast for today's trading, we assume a further slight increase in cryptocurrency. We expect Bitcoin to rise to resistance levels of 3990, 4020 and 4050 dollars, Ethereum's movement to marks 150, 152 and 155, and an increase in the XRP price to levels of 0.3370, 0.3590 and 0.3630 dollars.

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