Swipe Technical Analysis: SXP/USD sees massive 20% surge after Binance acquisition
- Binance has acquired Swipe aiming to close the gap between crypto and fiat.
- SXP/USD is up 20% hitting a high of $0.736.
Initially, Binance announced a partnership with Swipe for a debit card launch, however, just recently, Binance has actually acquired the platform. Changpeng Zhao commented:
"To achieve our mission of making crypto more accessible to the masses, off-ramps are a key component as well. By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone."
SXP/USD daily chart
After the initial pump following the first Binance announcement, Swipe started consolidating but is seeing a lot more trading activity now with a significant surge in trading volume and sustained price. There are actually not many resistance levels until $1.45 even though SXP is only trading at $0.67 right now.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
