Ripple XRP Launches Liquidity Hub, Kadena Coin the Most Bullish Crypto This Week
Ripple had a setback in the court this week, regarding the SEC (Securities and Exchanged Commission) after being ordered by one of the judges on the case to deliver video and audio recordings of the company’s internal meetings which could fo in favour of the SEC. But, Ripple continued the uptrend and it even picked up pace this week before the retreat yesterday amid profit-taking in the crypto market.
But, the 20 SMA held as support for XRP and the price is reversing higher in XRP/USD . Ripple has announced that it will launch the Liquidity Hub. This enables financial firms to offer their customers access to cryptocurrencies, for buying, holding or trading Bitcoin, Ripple, Ethereum, Litecoin etc.
Ripple Coin XRP Live Chart
It will give the companies access to digital assets from market makers (MM), exchanges as well as over-the-counter (OTC) trading desks. So, buyers want to get in on Ripple, but they’re hesitant due to the SEC lawsuit and the careful bullish trend indicates just that. We are holding on to our XRP buy signal, which will take some time, but we’re patient.
Kadena Daily CHart Analysis – KDA Can’t Stop Making New Highs
Kadena used to be an unknown crypto, in the vast space of thousands of cryptocurrencies, but it has attracted a lot of attention this week. By the middle of October, KDA/USD was trading at around $2, while on Sunday it reached $26, after the surge picked up pace. The price retreated around $13 lower, which is the 50% Fibonacci retracement level and the bullish momentum resumed again. Today, Kadena coin printed a new high at $28.50s, which shows that the bullish momentum is quite strong.
Kadena isn’t able to form a resistance level as buyers keep pushing the price up
Kadena which by using “braided chains” is able to process 480,000 transactions per second (TPS) as a Proof-of-Work (PoW) Layer 1 blockchain is launching the wrapped Kadena (WKDA) to Ethereum, a compatible decentralized finance (DeFi) protocol. Because of that, the daily trading volume increased from an average of $3 million to more than $345 million. Kadena announced that it would expand to other Layer-1 blockchains such as Polkadot, Cosmos, Terra Money etc. That is a strong reason for the rally.
Besides that, the UFO token will build their NFT gaming platform on Kadena, which means that Kadena is adding NFT capabilities to the network. Kadena is also being listed increasingly in different crypto exchanges such as CoinMetro and Crypto.com, so the popularity is increasing and will do so even further. For these reasons, the Kadena coin has been surging lately and it is not showing signs of sopping after making new all-time highs today. We are following this coin and if we see a decent pullback we might even go long on Kadena.
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