XRP Extends Gains as Chinese Crypto Exchange, ZB.com Starts Supporting Ripple : Ripple’s XRP has continued its march up ever since news broke out at the company has teamed up with American Express.
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XRP/USD tested above the daily Ichimoku cloud on Monday, however, it has yet to reach the highs of last week at around 0.2670 on its massive spike. After testing that level last week, XRP prices settled at 0.22 to offset the bullish sentiment. Now, the slow and steady might win the race to reaching the key resistance level of 0.28 in the coming weeks.
There also has been news that Chinese crypto exchange ZB.com which officially launched on November 1st, now supports Ripple’s XRP. Keep in mind that China has banned Bitcoin, however, some Chinese bitcoin exchanges, including ZB.com, have turned their attention instead to selling overseas, which makes their support of Ripple possible. Ripple is the 4th largest cryptocurrency by market cap, and aims to enable “secure, instant and nearly free global financial transactions of any size with no chargebacks.
USD strengthened versus major counterparts
USD strengthened versus major counterparts : The USD had a field day on Monday as it strengthened versus major counterparts. However, the USD/JPY pair continues to be supported by the upper band of the Ichimoku cloud on the daily time frame, however, the Kijun line has crossed below the Tenkan line.
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On the economic calendar…
On the economic calendar today we have a bunch of high profile speeches that could shake the markets. At 9:05 AM GMT, RBA Governor Lowe Gives Speech in Sydney about recent developments in the Australian and global economy. During the next day’s Asian session, current Fed head Janet Yellen Speaks at Stern Business School. She already said on Monday she will resign her seat on the Fed’s Board of Governors once Jerome Powell is confirmed and sworn in to replace her as head of the U.S. central bank. Besides the speeches, we also have the UK Inflation Report Hearings at 9:30 AM GMT. If policymakers send strong hints for another tightening move early next year, we could see some GBP gains.