Monero price analysis: XMR/USD leading the bullish momentum, jumps over 6% on Wednesday, Edge Mobile Wallet adds Monero and Ripple

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  • XMR/USD is up 6.49% on the day after initiating an upside movement from starting marginally above $108.00.
  • The Edge Mobile Wallet supports buying, selling and the storage of digital assets.

Monero is the biggest gainer among the top twenty cryptocurrencies by market capitalization. The crypto has defied the negative pressure in the market to embrace a bullish momentum. XMR/USD is up 6.49% on the day after initiating an upside movement from starting marginally above $108.00. The price breached the resistance at $128 in the Asian trading hours but selling activity prevented movement above $130.

Both the 100 Simple Moving Average and the ascending trendline provided support after the Bears pushed for equilibrium from the overbought levels at $120. XMR/USD is currently battling for support at $128, however, the path of least resistance is to the south as observed using technical indicators on the 1-hour chart. If the immediate support at $128 (weak) gives in to the advances of the sellers, the buyers must hold ground at $120 to avoid testing the waters at the stronger support area at $116.

Monero and Ripple have been added to the secure Edge Mobile Wallet. The wallet supports buying, selling and the storage of digital assets. This platform gives Monero and Ripple users the diversity and simplicity of storing their coins on a mobile device. The CEO of Edge, Pual Puey commented on the listing of the two assets saying:

“We’ve listened closely to our community over the last few months and found a strong demand for these currencies on the Edge platform. Both communities are different but they face the same issue: how do we hold and use our currency? Edge is proud to announce that they can now find that option here,”

XMR/USD 1-hour chart

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