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Crypto Today: Bitcoin, Ethereum attempt recovery from recent dip, XRP loses key support and slips to $0.54

|ByEkta Mourya

  • 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. 
  • Coinbase Institutional wallet moves over 225.99 million USDC coins to an unknown wallet, per on-chain data. 
  • 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. 
  • Mastercard plans to support non-custodial crypto spending through a new partnership with Mercuryo. 

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