Weekend Crypto Round Up

After the dizzying action that took place in the crypto markets last week and the financial markets in general let’s take a look at what happened over the week.

• XRP has reversed its sharp decline that it’s price suffered in December upon news that the U.S. Securities and Exchange Commission announced a lawsuit against Ripple Labs. With some help from telegram and perhaps a little from the WallStBets subreddit it posted a gain of over 50% over the weekend. With no resistance levels between 0,80 cents and $1 if XRP breaks through 0,80 it could hit $1 and onwards to an ATH.

• Elon Musk speaks. Cryptocurrency’s favourite celebrity gave an interview this weekend on the app Clubhouse about all things crypto and said he thinks the the noº1 cryptocurrency, bitcoin, is on “the verge” of breaking into traditional finance although admitted that his tweets and memes about Dogecoin (DOGE) were always jokes but added that “fate loves irony”. A man that can move markets with a tweet giving his backing to Bitcoin is another boost for the cryptocurrency.

• DOGE itself went on a little run again over the weekend, after receiving a huge boost again from the wallstreetbets as well as other copycat crypto forums that have sprung up on reddit last week, urging for another pump.

That’s the main headlines from this weekend, the US market will start soon, for today it seems all eyes are on Ripple (XRP) and Dogecoin (DOGE).

Catch you next Monday, enjoy the week and stay safe, both in and outside of the markets!

Astontech International