Bitcoin, Ripple & Binance Coin – American Wrap: 10/7/2020

Once again, the US president added some excitement to the market by refusing to discuss the stimulus package until the elections are over. The stock market reacted by a collapse; Bitcoin mostly followed the lead; however, the movement’s scale was not significant enough for the markets to hit the panic button.

Ripple Is Fed Up With The US Regulatory Repressions; XRP Goes To The South

The California-based fintech startup Ripple seems to be exhausted by the US authorities’ strict regulatory requirements.

In the recent speech during LA Blockchain Summit on October 6, Ripple’s co-founder Chris Larsen hinted that the company might move from the United States to a jurisdiction with a more favorable regulatory environment. He mentioned the UK, Switzerland, Singapore, or Japan as a possible new destination for the company.

Binance Coin Technical Analysis: BNB Breakdown Imminent Despite Positive On-Chain Activity

Binance Coin made a shallow recovery from losses posted towards the end of September. Support embraced at $22 resulted in an upswing. Bulls regained control of the price to the extent, BNB/USD tested the hurdle at $30. However, a reversal came into the picture, leaving September highs around $34 untested. In the meantime, Binance Coin is teetering at $27.4 as bears stamp their feet down.

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