© Reuters.
Investing.com – Japanese cryptocurrency exchange FUELHASH announced yesterday that XRP will now be accepted for its crypto lending program. It is the first company in Japan to support XRP in addition to USDC, USDT, BTC, ETH, ETC and BNB, according to a press release.
Users who wish to lend their XRP receive fixed interest rates in exchange. For a loan period of 60 days, according to the website, this amounts to 1 percent, while for 90 days it can reach 1.5 percent. FUELHASH’s representative, Katsuya Konno, thus explains:
“We support XRP, which has many enthusiastic fans, and give them the opportunity to increase their income through credit operations.”
While XRP holders have the opportunity to earn additional returns with their XRPs, Ripple’s Head of Legal Department Stuart Alderoty says SEC Chairman Gary Gensler is becoming a growing political risk for the Chairman. Joe Biden.
According to him, millions of U.S. crypto enthusiasts feel unfairly treated by the SEC’s action. This would mean that the Biden administration cannot count on the support of these voters, because they are the ones who To appointed Gensler to head the US Securities Supervisory Authority.
Ripple price technical benchmarks
Ripple is currently losing -0.31 percent at a price of $0.3693, while the weekly loss stands at -7.20 percent.
On the daily chart, the cryptocurrency broke the support at the 50 percent Fibo retracement of $0.3737 based on the daily closing price and hence the focus is on an extension of the downward move. The next support is found at the 61.8% Fibo retracement at $0.3600, which is reinforced by the psychological threshold at this level. Below this, losses should then be expected towards the 78.6% Fibo retracement at $0.3404.
Only if one manages to reclaim the 50 percent Fibo retracement based on the daily closing price will a rally towards the 38.2 percent Fibo retracement of $0.3875 be possible. If this resistance can be breached, a continuation of the upside move towards the next resistance in the form of the 23.6% Fibo retracement of $0.4045 becomes more likely.
By Marco Oehrl