Market review, November 11, 2019

2019-11-11 13:03:40

Money transfer giant MoneyGram processes 10% of its transactions between the U.S. and Mexican corridor via Ripple’s payments solution On-Demand Liquidity (ODL) that leverages XRP cryptocurrency.

According to the chairman and CEO of MoneyGram Alex Holmes, the company plans to expand the use of ODL solution to four more corridors by the end of this year.

We’re able to settle billions of dollars in seconds. The magic comes from pairing MoneyGram transactions with Ripple’s ODL,” said Holmes.

Let us recall that in the middle of this year, Ripple invested $50 million in the development of the MoneyGram service.

Testing of Ripple technologies for MoneyGram international transfers began in early 2018. Then the company tested the Ripple xRapid solution, which allows you to exchange currencies through XRP in real-time.

Technical analysis of Bitcoin (BTC):

Market review, November 11, 2019

Over the past weekend, the price of bitcoin rose to the resistance level of $9,140. This price movement coincided with our forecast. After that, the price of bitcoin fell to the support level of $8,600. Now, it is $8,700. We expect the continuation of a downtrend. The nearest resistance levels are $8,750, $8,900. The nearest support levels are $8,600, $8,500, $8,400.

Technical analysis of Ethereum (ETH):

Market review, November 11, 2019

Over the past weekend, the price of ethereum rose to the resistance level of $192. This price movement coincided with our forecast. After that, the price of ethereum fell to the support level of $185. Now, it is $186. In the future, we expect the continuation of the downtrend. The nearest resistance levels are $187, $192, $194, $197, $200. The nearest support levels are $185, $183, $181, $178, $173.

Technical analysis of Ripple (XRP):

Market review, November 11, 2019

Over the past weekend, the price of ripple rose slightly to the resistance level of $0.2850. This price movement coincided with our forecast. After that, the price fell to the support level of $0.2690. Now, it is $0.2740. In the future, we expect the continuation of the downtrend. The nearest resistance levels are $0.2760, $0.28, $0.2840, $0.2910. The nearest support levels are $0.27, $0.2670.

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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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