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Cryptocurrency Market Update

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Coinbase launches Coinbase Custody International to cater to the growing demand for custody services in Europe. Bitcoin’s consolidation is likely to culminate in a massive breakout, respectively.

The cryptocurrency market is taking a breather following an action-packed few days. The entire market has remained relatively slow apart from the shallow correction from billion to billion current market capitalization. On the other hand, trading activities have gone down significantly. 

Coinbase has responded to increasing demand for institutional-grade custodial services with the registration of a new company, Coinbase Custody International. The company’s spokesperson says that the branch, Coinbase Custody boasts of billions in assets. Coinbase wrote in a blog post:

“While Coinbase Custody has served European-based clients in the UK, Switzerland, Germany, Finland, the Netherlands and more since, our dedicated presence in Europe will allow us to offer these services in a completely localized way, with local staff, localized service-level agreements, and in compliance with local laws.”

Bitcoin price update:

Bitcoin is hovering above $9,400, (during the time of writing) amid consolidation. The bulls appear to have taken a breather before launching another assault at, as well as the next resistance. The hourly chart also shows that Bitcoin’s technical picture has remained positively intact especially with the RSI having made it above the average. 

BTCUSD -hour chart and Ripple price update:

The second and the largest cryptocurrencies in the world are trading slightly in the green. The bulls have managed to correct the negative retracement encountered during the Asian hours. It is now teetering following a percentage growth on the day. Ripple, on the other hand, is up only 26% year-to-date.

What is ripple worth today?

Current Price:

The market cap of Ripple is $20,026,818,528 USD with a 24-hour volume of $603,425,348 USD. There is a total supply of 99,991,792,688 XRP, of which 40,205,508,733 XRP are circulating.

For both coins, the prevailing trend is bullish while volatility is expanding.