xrp cryptocurrency price

bitcoin price: Top Cryptocurrency Prices Today: Binance Coin, XRP, Dogecoin shed up to 13%

bitcoin price: Top Cryptocurrency Prices Today: Binance Coin, XRP, Dogecoin shed up to 13%
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New Delhi: Major cryptocurrencies bled on Tuesday. The top 100 digital tokens traded in red at 9.30 GMT, highlighting the gloom in the cryptocurrency market. Binance Coin, Ripple, Ethereum, Dogecoin and Polkadot are down 8-13 percent.

The global cryptocurrency market cap fell to $1.19 trillion, down 7.48 percent from the previous day. The total size of the crypto market over the past 24 hours was $62.12 billion, up 27.76 percent.

The decline comes amid a broader risk-off environment that has also seen US stocks fall on fears of slowing growth and the relentless spread of the delta variant of Covid.

The Turkish Ministry of Treasury and Finance has announced that a bill to create a legal framework for crypto assets is ready for discussion. This comes shortly after Bitcoin was legalized in El Salvador, and Paraguay has also shown a strong interest in doing so.

Deputy Minister Sakr Erkan Gul announced that the crypto bill will be submitted to the Grand National Assembly of Turkey, at the beginning of the next legislative year, which is October 2021.

The hope for a friendly approach to regulation is high, Zebpay Trade Desk said, as doing so would make the country an attractive investment source for leading cryptocurrency exchanges around the world.

“Bitcoin took a beating this week, dropping below $31,000 on Monday night,” she added. “The most likely general explanation is the Grayscale Bitcoin Trust, which on Sunday saw a 16,000 BTC open event, which the day after day negatively impacted the market.”

The Central Bank of Turkey had previously banned the use of cryptocurrencies as a medium of exchange, and prohibited banks from offering deposit and withdrawal services to cryptocurrency exchanges. The new legal framework is also likely to put in place several safeguards, such as security clearance and safeguards.

Tech Show by Giottus Cryptocurrency Exchange
Polygon Network (MATIC) has achieved a rating of over 100x since the beginning of the year to an all-time high (ATH of $2.7). Matic has been in the build-up phase for months now. After the breakout, it surpassed previous highs on longer time frames and seemed unstoppable until the Bitcoin (BTC) downtrend started in May.

On the shorter time frames, MATIC has formed a bearish channel, which is a temporary bearish pattern while the long-term picture is still bullish. MATIC has a strong support area. It closed below the EMA20 while the RSI is in oversold territory, which means that there are no indications of a channel breakout at the moment.

Once BTC starts to regain the lost momentum, we hope MATIC will start its upward trend towards ATH. MATIC is in a consolidation phase after a strong pump, so it may be another buying opportunity for investors who missed the window earlier.

Main levels:

supports: $0.7, $0.61, $0.55

resistance: $0.88, $1.04, $1.1

(The opinions and recommendations in this section are those of the analysts and do not represent the opinions and recommendations of ETMarkets.com. Please consult your financial advisor before assuming any position on the said asset/s.)


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