Ripple, Bitcoin Cash and Stellar Price Analysis Summary – Explica .co

The cryptocurrency market advances this Friday, and this situation also supports the price of Ripple, Bitcoin Cash and Stellar. Bitcoin is trading above the $ 57,000 level, and for now, all indications are that the price could rise above the $ 60,000 resistance again.

The cryptocurrency market continues to attract institutional investors and according to the latest news, Andreessen Horowitz, one of the largest venture capital firms, will raise a billion dollars for a cryptocurrency VC find that it would invest in different cryptocurrencies.

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Andreessen Horowitz also invested in Coinbase and Ripple, while the current investment in the fund would make this company the largest crypto fund investor among venture capital firms. Bill Stromberg, CEO of money manager T. Rowe Price Group, said he expects cryptocurrencies to move “at a good pace.”

“Cryptocurrencies were still far from coming of age, so I would expect this to move apace, but it will take years to develop,” said Bill Stromberg.

T. Rowe Price Group has more than $ 1.40 trillion in assets, and when information like this comes from the CEO of the company, it should certainly be positive news. Many institutions began to view cryptocurrencies as an excellent store of value, while Visa, the world’s leading payment processor, said that it considers Bitcoin to be digital gold.

The cryptocurrency market continues to operate in a buy zone and, for now, there is no bear market risk.

Ripple (XRP) has found strong support above $ 1

Ripple (XRP) is moving forward in the last week of April and, for now, there are no signs of a trend reversal.

Data source: tradingview.com

Critical support levels are 1.40 and $ 1; $ 1.8 and $ 2 represent resistance levels. If the price rises above $ 1.8, it would be a signal to buy Ripple (XRP), and the next target could be around $ 1.9 or even $ 2.

On the other hand, if the price falls below $ 1.4, it would be a firm “sell” signal, and we have the path open to a support level of $ 1.

Bitcoin Cash is trading near the $ 1,000 resistance level

Bitcoin Cash has advanced from $ 541 above $ 1,200 since the beginning of April, and the current price is hovering around $ 988.

Data source: tradingview.com

If the price jumps above $ 1,000, it would be a confirmation of an uptrend, but if the price falls below $ 700, it would be a firm “sell” signal and a trend reversal signal.

Stellar (XML) still unable to advance above $ 0.60 resistance

Stellar (XML) has been moving in an uptrend for the past few days, but the price is still unable to advance above the $ 0.60 resistance.

Data source: tradingview.com

If the price rises above $ 0.60, the next target could be around $ 0.70, but if the price falls below $ 0.40, it would be a strong “sell” signal.

Resume

The cryptocurrency market advances this Friday, Bitcoin continues its rise and advances above $ 57,000 again, and this situation also supports the price of Ripple, Bitcoin Cash and Stellar. These cryptocurrencies are in correlation with Bitcoin, and if Bitcoin enters the correction phase again, that will have a negative influence on the price of Ripple, Bitcoin Cash and Stellar.