Good morning! News reaching Ethereum World News indicate that the time has finally come for Ripple to have its own trading pair even before the SBI Virtual Currency exchange hits the markets in the coming summer. Indian Exchange, , has just announced that it will be offering TRX/XRP trading pair on its exchange as the first pair on it. This is good news for both the Tron (TRX) foundation and the Ripple (XRP) project.
The announcement was made via the Zebpay twitter handle and they :
Zebpay is excited to announce the launch of XRP market for crypto-to-crypto trading. The first pair we’re introducing is TRX/XRP. More crypto pairs coming soon. Happy Trading! #zebpaycryptotrading @Ripple @Tronfoundation
New Trading pair on Zebpay
This is exciting on so many levels.
Firstly, and earlier mentioned, we see XRP forming the base in trading on the exchange. This means that there will be more pairing with the number 3 coin in the crypto-verse. This means more action for XRP and more demand for the currency on the Zebpay exchange.
Secondly, and still about Ripple, this sets precedence for the yet to be released SBI Virtual Currencies exchange that has been mentioned in terms of trading. XRP pairs are sure to be on the exchange and as the main attraction.
Thirdly, this signifies the start of a possible ‘flippening’ of bitcoin. Flippening is defined as the end of dominance of one cryptocurrency in the markets through the rise up the ranks of another less popular coin. In this case, XRP might flippen BTC and TRX will make its way up to the as envisioned by Justin Sun.
Fourthly, this trading pair adds to the much needed liquidity of TRX ahead of the MainNet launch. Zebpay also supports the token migration on the 21st of June!
Zebpay is an app enabled bitcoin wallet provider headquartered in Singapore with its IT office in India. The App recently added multiple cryptocurrencies and exchange capabilities with support of XRP being available on the 8th of February. The App is available both on Android and iOS. The mobile exchange is currently ranked 82nd with a daily trade volume of $6.825 Million at the moment of writing this.
In conclusion, we can only say three words with respect to both TRX and XRP!
Moon! Moon! Moon!
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Neo price declined sharply and settled below $70 against the US Dollar. NEO/USD remains in a downtrend and is at a risk of more losses below $60.
Key Talking Points
Neo price corrected higher recently, but it could not move above $70.00 against the US Dollar.
There is a monster bearish trend line in place with resistance at $68.00 on the hourly chart of NEO/USD (data feed by Bitfinex).
The pair may continue to move down if it fails to stay above the $61.00 and $58.50 supports.
Neo Price Chart Analysis
There was a heavy downside move from well above $80.00 in Neo price against the US Dollar. The NEO/USD pair declined and moved below the $74.00 and $70.00 support levels.
The suggests that the price even broke the $60.00 support level once and traded as low as $58.37. Later, it started an upside move and corrected above the $61.00 and $62.00 resistance levels.
The price even traded above the 38.2% Fibonacci retracement level of the last decline from the $77.30 high to $58.37 low. However, the price faced a near the $69.00-70.00 zone. The 100 hourly simple moving average, which is currently at $67.00 acted as a major barrier.
Moreover, there was no close above the 50% Fibonacci retracement level of the last decline from the $77.30 high to $58.37 low. More importantly, there is a monster bearish trend line in place with resistance at $68.00 on the hourly chart of NEO/USD.
At the moment, the pair is trading near the $63.50 level, with an immediate support at $62.00. However, the most important support is near $60.00-61.00. If buyers fail to push the price above $68.00 and the 100 hourly SMA, there could be more losses.
A break below the $60.00 support may perhaps call for more losses below the $58.00 level in the near term. On the flip side, a successful close above the $68.00 and $70.00 resistance will most likely push neo price back in a bullish zone.
Trade safe traders and do not overtrade!
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Bogdan Fiedur, ICO Advisor, ICOBench Expert, Smart Contract Developer, Full Stack Developer, Advisory Board Member at Cryptocurrency &…
