Crypto Today: Bitcoin, Ethereum attempt recovery from recent dip, XRP loses key support and slips to $0.54
- Bitcoin and Ethereum attempt recovery from the decline earlier this week, BTC is back above $57,000 and Ether hovers around $2,400.
- XRP loses key support and slips to $0.54 on Thursday.
- Former CEO of defunct exchange Mt.Gox prepares to launch EllipX in Europe.
Bitcoin, Ethereum and XRP updates
- Bitcoin trades at $57,178 at the time of writing. The largest digital asset recovered from its steep decline on September 4 when the price slipped to a monthly low of $55,606. BTC erased 1.57% of its value on the day.
- Ethereum hovers around $2,400 at the time of writing, early on Thursday. The second largest cryptocurrency lost nearly 2% of its value in a single day.
- XRP slipped to $0.54 low on Thursday before recovering to $0.55 support.
Chart of the day
Helium (HNT/USDT) broke out of its downward trend on September 3, as seen in the HNT/USDT daily chart. HNT trades at $8.4256 at the time of writing. The token rallied nearly 8% on the day and could extend gains by another 5.39% to hit a target of $8.755, the upper boundary of the imbalance zone between $8.742 and $8.755.
The Relative Strength Index (RSI) nears 65 on the daily timeframe. Traders need to watch this indicator closely. Once the RSI crosses 70, it generates a sell signal for the asset.
HNT/USDT daily chart
HNT could find support at the 50% Fibonacci retracement of the decline, at $6.959 from the February 15 top of $11.068 to the June 18 low of $2.85.
Market updates
- CoinGecko announces grants for developers building on the Cronos chain, first 25 projects to receive a grant.
Calling all devs buidling on @cronos_chain!
— CoinGecko (@coingecko) September 5, 2024
We’ve teamed up with Cronos to offer an exclusive Blockchain Builder Grant for innovative projects and applications on the Cronos network. #BuildwithCoinGecko pic.twitter.com/9PGAOCCtcH
- Coinbase Institutional wallet moves over 225.99 million USDC coins to an unknown wallet, per on-chain data.
225,999,999 #USDC (226,338,998 USD) transferred from Coinbase Institutional to unknown wallethttps://t.co/leh21uH8RK
— Whale Alert (@whale_alert) September 5, 2024
- Travala, a Crypto-native travel platform integrated with Skyscanner, marks the first crypto partnership for the firm.
Industry updates
- Former Mt.Gox CEO announced the launch of crypto exchange EllipX in Europe.
- Crypto expert Lark Davis reports that Coinbase CFO said US presidential candidate Kamala Harris used Coinbase to accept crypto donations.
Coinbase CFO says Kamala Harris's campaign uses Coinbase to accept crypto donations.
— Lark Davis (@TheCryptoLark) September 5, 2024
Would you donate your crypto to Kamala?
- Mastercard plans to support non-custodial crypto spending through a new partnership with Mercuryo.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
