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Bitcoin, Ethereum & Ripple - American Wrap: 5/18/2020

Bitcoin Price Analysis: BTC/USD Moves Towards $10,000 At A Snail's Pace – Confluence Detector

Benzinga · 05/18/2020 20:52

Bitcoin Price Analysis: BTC/USD Moves Towards $10,000 At A Snail's Pace – Confluence Detector

Bitcoin (BTC) has extended the recovery from the intraday low into the US opening. At the time of writing, BTC/USD is changing hands above $9,700, mostly unchanged both on a day-to-day basis and since the beginning of Monday. On the intraday charts, BTC is supported by 1-hour SMA50 (currently at $9,600), while the ultimate bullish target is created by a psychological $10,000.

ETH/USD: Ethereum 2.0 Testnet Forked, Market Participants Say It's OK

Schlesi, a testnet designed for public testing of Ethereum 2.0, forked on Sunday, May 17. The unexpected split took place at slot 141,184, which resulted in the creation of different slots that were validated independently.

Ethereum (ETH) 2.0 entered the public testing in the first quarter of 2020. Prysmatic Labs, PegaSys, Sigma Prime, Nimbus, and some other teams released their testnet environments for validators. This is the first known fork of the Ethereum (ETH) 2.0 multi-client testnet sandbox.

XRP/USD: Ripple's Solutions May Increase The Transparency Within The Banking System - CFPB

Ripple’s XRP hit the intraday high at $0.2080 during early Asian hours and retreated to $0.2030 by the time of writing. Despite the sell-off, the coin is still 6% from the beginning of the day and mostly unchanged on a day-to-day basis. Its current market capitalization is $8.9 billion and an average daily trading volume of $1.9 billion. The coin has been trading within a short-term bullish bias amid low volatility.

Image sourced from Pixabay