XRP Leads The Way, Crypto Sponsorship Hits The Premier League

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It looks like the market is stuck in rangebound trading. Out of the top 10 coins by market capitalization, only one has managed a move of over 1% as the U.S. day began. XRP was up 2.5% to start the day. Xpring Ripple’s incubator arm, has partnered with blockchain startup Forte to form a $100 million fund to support game developers who are interested in the use of blockchain technology.

Bitcoin (BTC) and Ethereum (ETH) offered no such excitement as both trade at $3,860 and $131 respectively, mostly rangebound on the day. Crypto action is very much sidelined for the day. The English Premier League Wolverhampton Wanderers have become the first EPL team to sponsor a crypto exchange. The advertisement has already gone viral on YouTube, attracting over 400,000 views.

Technical Analysis

As XRP had a fundamental reason to move. Today’s price action highlights the descending wedge formation. If the good news is to continue, could we see a break higher out of this formation? Today’s price action could almost be construed as disappointing given half the gains were given back by the day’s end. This has been a familiar theme after rallies driven by positive news for XRP. Could it be different this time? 

14th March 2019, David Hannigan. trade.io14th March 2019, David Hannigan. trade.io

Wednesday’s winners and losersWednesday’s winners and losers

With additional commentary & technical analysis by David Hannigan, Chief Dealer, trade.io.

Disclaimer: All opinions expressed by Jim Preissler are solely his opinions and do not reflect the opinions of Forbes, Forbes CryptoMarkets, their parent company or affiliates.

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