- Binance is also looking forward to obtaining a License in Jersey located in the Channel Island.
- Ripple price is staging a recovery after the weekend dip that had it test the key support area at $0.55.
Speaking on phone with Bloomberg, Binance CEO Zhao Changpeng said that the exchange is currently working on adding crypto to euro trading pair before the end of 2018. Most of the crypto exchange platforms do not offer crypto to fiat trading because of the regulations that are associated with fiat-to-crypto trading. Although Zhao did not give much detail to the plan, the company had announced a few months back that it is planning to set up operations in the crypto-friendly Malta Islands. Binance is also looking forward to obtaining a License in Jersey located in the Channel Island. Significantly, the company is in talks with Taiwanese authorities and the banks in the country.
Binance exchange has achieved milestones after milestones on the journey to becoming the largest cryptocurrency exchange in less than one year. It was launched in July 2017 and in only three months it had made profits amounting to $150 million. Binance trading volume currently falls between $1.4 billion and $1.5 billion and serves at least 9 million users.
Ripple price analysis
Ripple price, on the other hand, is staging a recovery after the weekend dip that had it test the key support area at $0.55. The asset is still locked below the short-term resistance at $0.60, however, it is battling to break above the short-term bearish trendline. Beyond $0.60, XRP/USD will encounter more resistance at the 61.8% Fib retracement level with the last high leg of $0.69 and a low of $0.54.
In the meantime, the moving averages still show the presence of selling pressure, but the RSI on the 1-hour chart is ranging to show that buyers have the strength to stop further declines towards the short-term support area at $0.58 – $0.57. The support level at $0.55 is positioned to halt more declines as well.
If Binance succeeds in adding crypto to euro trading pair Ripple is one of the many digital assets that will benefit immensely. Moreover, Coinbase is also looking at ways to expand its listing and in the near future Ripple could find another support too. In the meantime, the bulls must hold ground and gather momentum to recoil above $0.610 before attacking $0.70.
XRP/USD 1-hour chart