XMR/USD rangebound as Monero’s lead developer spats with TokenPay’s CEO on Twitter

  • XMR/USD is sitting in a tight range, in line with global cryptocurrency market development.
  • Riccardo Spagni and  CEO of TokenPay Derek Capo got into a fight.

Monero (XMR) is changing hands at $108.53, losing 0.74% since this time on Wednesday. The coin sits at the 10th place among global digital assets with market cap registered at $1.7B and average daily trading volume at $22M. Monero has been rangebound since Tuesday, after wild roller-coaster movements at the beginning of the week. 

Twitter spat

Meanwhile, Twitter users recently witnessed a quarrel between Monero’s lead developer  Riccardo Spagni and  CEO of TokenPay, Derek Capo. The former said that  TokenPay was a centralized platform, while the latter accused Monero of aiding criminals in their shady going-on.

“while there are legitimate needs for privacy, drug dealing, child porn, and trafficking do not count,” Derek Capo tweeted.

 Riccardo Spagni tried to avoid the destructive debate but got involved into it anyway.

Monero’s technical picture

On the 1-hour chart, XMR/USD is supported by SMA50 currently at $108.11, followed by $106.10-$106.00 congestion zone strengthened by SMA200 (1-hour). Once it is cleared, the downside may be extended towards $104.00 (the upper border fo the previous channel. That’s where fresh buying interest is likely to appear.

On the upside, the local resistance is created by $110.50. This handle has been limiting the recovery attempts since Tuesday. Once above, the upside momentum may gain traction with the next aim set at $114.00-$114.30 congestion zone.

XMR/USD, 1-hour chart

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