Will the Indian Lift on Crypto bans boost Bitcoin and Altcoin Prices?

By Max Steadman – Cryptocurrency Enthusiast

Today, the Supreme Court of India revoked the country’s ban on cryptocurrency trading implemented by the Reserve Bank of India. It is a positive sign and it could support the market slant for Bitcoin and crypto buying. Either way, at the time of writing Bitcoin is trading sideways with no increased volatility.

In addition, and as of now (08:30 UTC), the most significant altcoins are uniting beneath key breakout levels, including Ethereum, XRP, Litecoin, Bitcoin Cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD must move over $230 and $235 levels to begin a stable increment. XRP/USD is giving positive indications above $0.232, though suggestions say it must move above $0.240 to start a momentous increase in the immediate future. You can buy XRP and all the above altcoins over on our platform.

For those looking to buy Bitcoin Cash, the price tested the $340 resistance level and as of now, is experiencing a lower correction. BCH/USD is trading under $330, yet it may discover support close to the $324 and $320 levels. On the upside, the primary resistance levels are $340 and $350.

Users looking to trade and buy Litecoin will have also seen this price settle over the $60. On the upside, an underlying resistance is close to the $62.50 level, of which the cost could ascend towards the $64.50 and $65.50 levels. On the other hand, a bearish break under the $58.50 may begin a significant decrease in the coming months.

The price of XRP is moving within a positive sector over the $0.230 and $0.232 support levels. Nonetheless, the bulls need to pick up movement over the $0.240 and $0.242 levels to drive the price towards the $0.250 resistance. One drawback to note however, is that the key support is close to $0.230, trailed by $0.224. If you are looking to buy XRP or learn more about the network, you can visit our coin guide here.

To find out more about how to buy and sell Bitcoin online in the UK, speak to our helpful team today.

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