Market review, May 18, 2020

2020-18-05 12:10:03

The U.S. Consumer Financial Protection Bureau (CFPB) believes Ripple’s solutions can enhance the transparency of the payment industry. It is stated in the report on international payments under the act on electronic money transfers. It follows that the agency is closely monitoring new trends in the industry, including the activities of digital currency issuers like Ripple. The report says that banks and credit organizations are increasingly working with closed payment systems. It complicates the calculation of commissions and other fees, including currency exchange rates. Ripple solutions can increase the transparency of the payment system for all parties: 

 “The Bureau also believes that the expanded implementation of GPI from SWIFT or the Ripple toolkit will allow banks and credit institutions to know the exact amount that will be received by the payee before this payment is sent.”

We would like to remind you that in April this year, Ripple entered the market of trans-border transfers of $6.7 billion per year. A month earlier, Ripple’s Partner refused a $36 billion solution with XRP for the market of trans-border transfers.

Technical analysis of Bitcoin (BTC):

Market review, May 18, 2020

Over the past weekend, the price of bitcoin dropped to the support level of $9,100. Then it rose again to the resistance level of $9,950. Now, it is $9,630. In the future, we predict a flat with a narrow price corridor between $9,200- $9,950. The nearest resistance levels are $9,700, $9,950, $10,000, $10,250, $10,500. The nearest support levels are $9,400, $9,200, $8,600, $8,150, $7,900, $7,600, $7,500.

Technical analysis of Ethereum (ETH):

Market review, May 18, 2020

Over the past weekend, the price of ethereum fell to the support level of $191. Then it rose again to the resistance level of $216. Now, it is $212. In the future, we predict a flat with a narrow price corridor between $204-216. The nearest resistance levels are $216, $218, $226, $245. The nearest support levels are $209, $206, $204, $200, $198, $193, $189, $186, $183, $178, $174, $169.

 

Technical analysis of Ripple (XRP):

Market review, May 18, 2020
Over the past weekend, the price of ripple dropped to the support level of $0.1950. Then it rose again to the resistance level of $0.2080. Now, it is $0.21. In the future, we predict a flat with a narrow price corridor between $0.1950-0.21. The nearest resistance levels are $0.2060, $0.21, $0.2150, $0.22, $0.23, $0.2350. The nearest support levels are $0.2020, $0.2, $0.19, $0.1820.

Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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