Bitcoin, Ethereum try to recover from recent decline, XRP loses key support and slips to $0.54

• Bitcoin and Ethereum are trying to recover from the decline earlier this week, BTC is back above $57,000 and Ether is hovering around $2,400.
• XRP loses key support and slips to $0.54 on Thursday.
• The former CEO of the defunct Mt.Gox exchange is preparing to launch EllipX in Europe.

Bitcoin, Ethereum and XRP Updates

• Bitcoin was trading at $57,178 at the time of writing. The biggest digital asset recovered from a steep decline on September 4, when the price fell to a monthly low of $55,606. BTC wiped 1.57% of its value on the day.
• Ethereum is hovering around $2,400 at the time of writing early Thursday. The second largest cryptocurrency lost almost 2% of its value in a single day.
• XRP fell to $0.54 on Thursday before returning to the $0.55 support.

Chart of the day

Helium (HNT/USDT) broke out of its downtrend on September 3, as seen on the HNT/USDT daily chart. HNT was trading at $8.4256 at the time of writing. The token rose nearly 8% on the day and could extend gains by another 5.39% to reach the target of $8.755, the upper limit of the disequilibrium zone between $8.742 and $8.755.

The Relative Strength Index (RSI) is approaching 65 on the daily time frame. Traders should watch this indicator carefully. Once the RSI crosses 70, it generates a sell signal for the asset.

HNT/USDT daily chart

HNT could find support at the 50% Fibonacci retracement of the decline at $6.959 from the February 15 high of $11.068 to the June 18 low of $2.85.

Market updates

• CoinGecko announces grants for developers based on the Cronos chain, the first 25 projects to receive a grant.

• Institutional wallet Coinbase moves over 225.99 million USDC coins to unknown wallet, on chain data.

• Travala, a Crypto-native travel platform integrated with Skyscanner, marks the first crypto partnership for the company.

Industry updates

• Former Mt.Gox CEO announced the launch of crypto exchange EllipX in Europe.
• Crypto expert Lark Davis reports that Coinbase’s CFO said US presidential candidate Kamala Harris used Coinbase to accept crypto donations.

• Mastercard plans to support non-custodial cryptocurrency spending through new partnership with Mercuryo.