Monero News and Price Analysis: Cryptomarket experience huge losses. Edge Mobile Wallet Adds Monero. XMR/USD Price. Saturday, June 23.
Important Monero News
Edge Mobile Wallet Adds Ripple and Monero
User and the community around Ripple and Monero have been finding storage a sort of a challenge. This is why the communities received the cheery news that Edge Multi Asset has commenced support of the digital currencies with glee. Edge now supports Ripple’s XRP and Monero’s XMR in addition to Bitcoin, Ethereum, Bitcoin Cash and several others.
The companies full release shows that for both Monero and Ripple, they now support hold, send and receive.
The company was initially named AirBitz but opted for a name change last October having preference for “Edge”. Their release said that the app development was as a result of users demand to have a single wallet with the capacity to hold multiple cryprocurrencies.
Paul Puey, the CEO of edge said “While solutions exist to gain price exposure and invest in these currencies, there were no options that let users hold, send, receive, and trade these currencies from a secure wallet they control, with no custodian, and alongside a dozen other crypto assets.”
Monero Price Analysis
The week has been turbulent for cryptocurrencies and Monero is no exception. The coin seems to be consolidating and getting ready for a recovery. The coin’s consolidation is clearly seen inside a symmetrical triangle patterning an indication showing an indication of an imminent break-out.
The 100 SMA sits below the longer term 200 SMA showing that the point of least resistance is below. This shows that the breakout is likely from the lower portion although the gap has narrowed showing that bullishness is still weak.
The span of the chart is $106 to $136. The MA have shown resilience and is holding up and could persist although the price has to clear $124 to confirm bullishness and below $120 to signal a bearish trend.
XMR/USD Price Chart, Saturday June 23rd:
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