Versus Bitcoin, it’s back to the key support level of 0.000036 [Video]

Kiana Danial, CFP Invest Diva

Ripple’s XRP lost ground as traded versus major counterparts including the USD, EUR and BTC for the second consecutive day on Wednesday, after a manager of Ripple cryptocurrency exchange arrested for a scam in Japan. Yuki Takenaka, the 31-year-old founder and head of a company operating the Ripple exchange, was arrested Wednesday for allegedly swindling ¥1.4 million ($12,470) from a depositor, according to the Japan Times. The news came after this week’s Swell conference in Toronto, and after news broke about Gates Foundation tapping Ripple to develop mobile payments services.From a technical point of view, versus the Mexican Peso, XRP tested the upper band of the brand new Ichimoku cloud which is in the process of formation on the daily time frame. Versus Bitcoin, it’s back to the key support level of 0.000036. Verus the USD, XRP has reached the lower band of the daily Ichimoku cloud and tested the support level of 0.1916 during Wednesday's trading. If the bearish sentiment continues, we could see another drop towards the next support level at 0.1490. Thanks for watching, invest responsibly, and I’ll see you with more updates next time.

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Kiana Danial, CFP

Invest Diva

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert.

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