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XRP is set to print a watch signal on the chart of Bitcoin as the moving averages are expected to make a convergence in a matter of days.
The 50-day MA and the 200-day MA on the XRP/BTC pair they are approaching and may converge in the coming days. If the 50-day MA crosses above the 200-day MA, a golden cross may occur, and a death cross may occur otherwise.
The 50-day MA looks turned down on the XRP/Bitcoin chart, raising the probability of a death cross, which is a bearish indication.
XRP has been consolidating in its Bitcoin pairing since the October 10th flash crash, currently at 0.00002275. A death cross or a golden cross could suggest short-term direction. A death cross could precede a bottom in the XRP/BTC chart, while a gold cross could kickstart bullish momentum.
XRP news
According to crypto reporter Eleanor Terrett, Canary Funds has filed an updated S-1 for its $XRP spot ETF, remove the “delay amendment” that prevents registration from being self-effective and gives the SEC control over timing. This puts Canary’s XRP ETF for a November 13 launch date, assuming the Nasdaq turns on the 8-A filing.
Webull, an online investment platform, has announced the expansion of its crypto futures offering through an ongoing partnership with Coinbase Derivatives. Through the move, Webull users in the US will be able to trade futures contracts for Nano XRP and XRP, among other cryptocurrencies.
In other news, XRP enthusiast Bill Morgan stated that a recent filing with the SEC reveals the new owner of the XRP company, which is Virtu Financial. In addition to Bitcoin and Ethereum, Virtu Financial holds a substantial amount of XRP on its balance sheet.
