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LTC, BCH, XRP price analysis; Bitcoin Cash City Conference to be held in Australia this September


The 4-hourly candlestick charts for the LTC/USD, BCH/USD and XRP/USD were consulted. According to data [for the LTC/USD pair], the RSI [for 10 periods] is at 26.22 showing that Litecoin has entered oversold territory. Similarly, the RSI for XRP/USD stands at 20.65, and may decline further with the passage of time.

For now, the RSI for the BCH/USD pair is at 37.18. The MACD line has sunk below the signal line. For all the three cases, the histogram south of the zero line is red. The drop involving XRP is slightly bigger. Resistance will be felt near the $358 mark [for BCH], whereas a barrier may hamper the growth of LTC close to the $86 mark.

XRP will probably face resistance all the way up to $0.4, a mark is almost nearly impossible to attain. The supply circulating is gradually increasing, and unless this move by Ripple is put on hold, XPR won’t have noticeable climbs. The market of XPR is dominated by Ripple executives like Brad Garlinghouse, Yoshitaka Kitao, and many more.

In Townsville, for a period of 2 days [September 4th and September 5th], a Bitcoin Cash City Conference will be held. Dozens of members belonging to the community will flock to this prestigious event. Australia has seen a surging rate of crypto-adoption in the past few months.

Some merchants have switched to operating on the Bitcoin Cash chain, as Visa and Mastercard can be problematic at times. Amaury Séchet and around 20 more prominent personnel involved in the BCH network will be attending this meet. Even laundromats in North Queensland accept Bitcoin Cash payments.

Do you believe this event will boost merchant adoption even further?

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.