Market review, March 2, 2020

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2020-03-02 15:01:10

Ripple CTO David Schwartz posted a video that outlined plans for ecosystem development. In particular, it will be possible to create stablecoins based on XRP.

Schwartz said that the team was working on creating new features for its blockchain. At the same time, Ripple CTO again called the Proof-of-Work consensus method, “a technological dead end.”

Not only Ripple but also third-party companies will be able to create stable cryptocurrencies. However, Schwartz did not provide more accurate information.

“One of the new features will be the ability to create new cryptocurrencies. We are talking about stablecoins and not only. Users will be able to launch assets tied to some external value, asset, or metric,” he said.

Schwartz stressed that XRP-based stablecoins would be interesting because the mechanism of this blockage provides liquidity.

Recently, David Schwartz said that the Ripple network is decentralized, and it is merely impossible to block any transaction.

Technical analysis of Bitcoin (BTC):

Over the past weekend, the price of bitcoin fell to the support level of $84,00, then it rose to the resistance level of $8,700. Now, the price of bitcoin is $8,630. In the future, we expect the continuation of the positive movement. The nearest resistance levels are $8,780, $8,860, $9,000, $9,320, $9,470, $9,730, $9,820, $9,900, $10,200. The nearest support levels are $8,500, $8,280.

Technical analysis of Ethereum (ETH):

Over the past weekend, the price of ethereum fell to the support level of $212, then it rose to the resistance level of $222. Now, the price of ethereum is $217. In the future, we expect the continuation of the uptrend. The nearest resistance levels are $219, $230, $236, $244, $257, $263, $273. The nearest support levels are $215, $213, $210, $206.

Technical analysis of Ripple (XRP):

Over the past weekend, the price of ripple fell to the support level of $0.2240, then it rose again to the resistance level of $0.2340. Now, the price of ripple is $0.2330. In the future, we expect the continuation of the positive movement. The nearest resistance levels are $0.2350, $0.2380, $0.2420, $0.2460. The nearest support levels are $0.2320, $0.23, $0.2260, $0.2240.



Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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