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After streaks of bullish rallies that have now gone above DMAs upon doji and a stern bullish engulfing candle formation, trend now drifts into sideways on hanging man and shooting star patterns at 0.32989 and 0.32656 levels respectively (refer 4H chart).
Whereas on daily plotting, we could foresee failure swings at downward trend-line. Both leading and lagging indicators offer minor upswings.
Well, amid this alluring price behaviour, Ripple has been assigning themselves in a strategic spot to enable the rising overseas remittance.
The essentialities for swift and economic ways of transferring funds domestically and internationally inevitably rises. SMEs are driving these needs who have been prolific and dynamic in nudging total global remittance to over $600 billion in 2018 alone and responsible for creating employment for more than 60 percent of the population.
While there’s been a latest platform that’s launched by Ripple’s former CTO which is now integrated with YouTube and Twitch and allows content creators to accept XRP. Coil is a startupcompany based at San Franciscowith an objective of rendering service in Internet content creation, seeking more avenues through which they can monetize their work and now it’s in beta phase. Their primary goal is to come up with brand new ways to support creators in making money. However, it would be little unwise to declare that the underlying price surge is due to this news.
For now, the trend goes in sideways on bearish candlestick formations with the overbought pressures. Hence, it is wise enough to wait for the better clarity for the uptrend confirmation. While both lagging indicators are still showing bullish crossover on intraday plotting.
Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 104 levels (which is bullish), while hourly USD spot index was at -95 (bearish) while articulating at (08:01 GMT). For more details on the index, please refer below weblink:
