Bitcoin, Ripple & Monero - American Wrap 5/13/2020

Bitcoin Price Analysis: Crypto whales helped BTC/USD to extend the recovery above $9,000

The first digital currency climbed above $9,000 during European hours on Wednesday, though the upside momentum remains weak. At the time of writing, BTC/USD is changing hands at $9,083, having gained 2.6% in the recent 24 hours. Bitcoin’s market value has increased to $165 billion, which is 67.3% of the total capitalization of all digital assets in circulation.

XRP/USD: Ripple may beef up its mass adoption case with lending services

Ripple has been growing its global presence due to a large number of advanced fintech projects and payment solutions. However, according to the job listings on Ripple’s website, the company is ready to expand into the lending services, which may become the biggest real-life use-case for the third-largest cryptocurrency.  

While it is not clear if the company plans to use XRP on a cross-border basis to provide lending capital, this move can speed up the adoption of the asset, provided that Ripple finds the way to legal and regulatory hurdles.

Monero Price Analysis: XMR pushes another 5% higher to close in on previous wave high

Monero has been trading well in recent sessions and on Wednesday pushed over 5% higher. The price has now broken the red trendline on the chart and looks set to hit the green resistance zone at 65.82. Beyond that, the high on the chart stands at 67.67 and the bulls will be looking to take this out to test the psychological 70.00 zone. 

Image sourced from Pixabay