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OKB, Huobi Token, XRP Price: Market pressure weighs on alts’ price

Chayanika Deka

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Source: Pixabay

Bitcoin’s dominance fell slightly to $64.8% after the collective market cap slid to $179.3 million. And while some expected alts to rally, they did so only briefly, with the same soon projecting downward movement after technical indices appeared to be bearish on the short-term price charts.

XRP

Source: XRP/USD on TradingView

While Ripple’s product, RippleNet, and the crypto-asset XRP, have seen their implementation across various financial institutions for cross-border remittance purposes, these developments seem to have little impact on the coin’s price.

At press time, the third-largest cryptocurrency by market cap was priced at $0.174, while also recording a 1.19% price rise over the last 24-hours. Additionally, XRP held a market cap of $7.65 billion and a 24-hour trading volume of $2.077 billion.

Resistance: $0.177, $0.183

Support: $0.162

MACD: The MACD aligned with the bulls.

CMF: The CMF also appeared to be diving back into the bearish zone.

Huobi Token [HT]

Source: HT/USD on TradingView

The crypto-platform Huobi exchange strengthened its Asian footprint after receiving a green light from the Thai Ministry of Finance for trading in Thai Baht which enables holders to trade its native Houbi Token [HT] and other cryptos to trade in Thai baht.

HT was up by 1.17% over the last 24-hours which drove the price t0 $3.32. At press time, the coin registered a trading volume of $751.4 million and a 24-hour trading volume of $120.3 million.

Resistance: $3.45

Support: $3.08

Parabolic SAR: The dotted markers above the HT price candles pointed to a bearish price trend for the coin.

Awesome Oscillator: The AO, however, was mildly bullish, with two green closing bars

OKB

Source: OKB/USD on TradingView

OKEx, the cryptocurrency exchange and the parent firm of the OKB utility token, has been leading the BTC Futures exchange volumes market for a while now. In fact, the platform has burned 70% of the token’s supply. OKB was down by 0.29% over the course of the last 24-hours. At press time, the token was trading at $4.02 with a market cap of $255.9 million and a 24-hour trading volume of $204.5 million.

Resistance: $4.47

Support: $3.74

Klinger Oscillator: The signal line above the KO line depicted a bearish phase for the coin in the near-term.

Relative Strength Index: The RSI also appeared to be heading towards the oversold region. This was indicative of mounting selling pressure in the OKB market.

Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

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