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XRP is set to print a watched signal on the Bitcoin chart as the moving averages are expected to make a convergence in a matter of days.
The 50-day MA and the 200-day MA on the XRP/BTC pair are drawing closer and might converge in the days ahead. If the 50-day MA crosses above the 200-day MA, a golden cross might occur, and a death cross might occur otherwise.
The 50-day MA looks turned down on the XRP/Bitcoin chart, raising the chances of a death cross, which is a bearish indication.
XRP has remained in consolidation in its Bitcoin pairing since Oct. 10's flash crash, currently at 0.00002275. A death cross or golden cross might hint at direction in the short term. A death cross might precede a bottom in the XRP/BTC chart, while a golden cross might kickstart bullish momentum.
XRP news
According to crypto reporter Eleanor Terrett, Canary Funds has filed an updated S-1 for its $XRP spot ETF, removing the "delaying amendment" that stops a registration from being auto-effective and gives the SEC control over timing. This sets Canary’s XRP ETF up for a launch date of Nov. 13, assuming the Nasdaq greenlights the 8-A filing.
Webull, an online investment platform, has announced the expansion of its crypto futures offering through an ongoing partnership with Coinbase Derivatives. Through the move, Webull users in the U.S. will be able to trade futures contracts for Nano XRP and XRP, among other cryptocurrencies.
In other news, XRP enthusiast Bill Morgan stated that a recent filing with the SEC reveals the newest XRP corporate holder, which is Virtu Financial. In addition to Bitcoin and Ethereum, Virtu Financial holds a substantial amount of XRP on its balance sheet.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team