The cryptocurrency market continues to evolve this Friday, and this situation also supports the price of Ripple, Bitcoin Cash, and Stellar. Bitcoin is trading above the $ 57,000 level, and for now, all signs point to the price could climb back above the $ 60,000 resistance.
The cryptocurrency market continues to attract institutional investors and according to the latest news, Andreessen Horowitz, one of the largest venture capital firms, is set to raise $ 1 billion for a cryptocurrency that VC would invest in various cryptocurrencies.
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Andreessen Horowitz also invested in Coinbase and Ripple, while the current investment in the fund would make that company the largest crypto fund investor among venture capital firms. Bill Stromberg, CEO of T. Rowe Price Group money manager, said he expected cryptocurrencies to move “at a good pace”.
“Cryptocurrencies were still a long way from growing up, so I would expect these to develop quickly, but it will take years for them to develop,” said Bill Stromberg.
T. Rowe Price Group has more than $ 1.40 trillion in net worth. If such information comes from the company’s CEO, it should surely be positive news. Many institutions viewed cryptocurrencies as an excellent store of value, while Visa, the world’s leading payment processor, viewed Bitcoin as digital gold.
The cryptocurrency market continues to operate in a buy zone and there is currently no bear market risk.
Ripple (XRP) found strong support above USD 1
Ripple (XRP) is moving forward in the last week of April and there are currently no signs of a trend reversal.
Data source: tradeview.com
Critical support levels are $ 1.40 and $ 1; $ 1.8 and $ 2 represent resistance levels. If the price rises above $ 1.8 it would be a signal to buy Ripple (XRP) and the next target could be at $ 1.9 or even $ 2.
Conversely, if the price falls below $ 1.4 it would be a firm sell-signal and we have the way to a support level of $ 1.
Bitcoin Cash is trading near the $ 1,000 resistance level
Bitcoin Cash has risen from $ 541 to over $ 1,200 since the beginning of April, and the current price is at $ 988.
Data source: tradeview.com
If the price bounces above USD 1,000 it would be a confirmation of an uptrend, but if the price drops below USD 700 it would be a firm sell signal and a trend reversal signal.
Stellar (XML) still cannot grow beyond the USD 0.60 resistance
Stellar (XML) has been moving in an uptrend for the past few days, but the price still cannot rise above the $ 0.60 resistance.
Data source: tradeview.com
If the price rises above $ 0.60, the next target could be $ 0.70. However, if the price falls below $ 0.40 it would be a strong sell signal.
Continue
The market for cryptocurrencies continues to develop this Friday, Bitcoin continues to rise, rising again to over USD 57,000. This situation also supports the price of Ripple, Bitcoin Cash, and Stellar. These cryptocurrencies correlate with Bitcoin. If Bitcoin enters the correction phase again, it will have a negative effect on the price of Ripple, Bitcoin Cash and Stellar.
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