Bitcoin, Ripple & Binance Coin - American Wrap: 10/7/2020

The US Stimulus Package Is Inevitable, And It Is Good For Bitcoin

Once again, the US president added some excitement to the market by refusing to discuss the stimulus package until the elections are over. The stock market reacted by a collapse; Bitcoin mostly followed the lead; however, the movement's scale was not significant enough for the markets to hit the panic button. 

Ripple Is Fed Up With The US Regulatory Repressions; XRP Goes To The South

The California-based fintech startup Ripple seems to be exhausted by the US authorities' strict regulatory requirements. 

In the recent speech during LA Blockchain Summit on October 6, Ripple's co-founder Chris Larsen hinted that the company might move from the United States to a jurisdiction with a more favorable regulatory environment. He mentioned the UK, Switzerland, Singapore, or Japan as a possible new destination for the company.

Binance Coin Technical Analysis: BNB Breakdown Imminent Despite Positive On-Chain Activity

Binance Coin made a shallow recovery from losses posted towards the end of September. Support embraced at $22 resulted in an upswing. Bulls regained control of the price to the extent, BNB/USD tested the hurdle at $30. However, a reversal came into the picture, leaving September highs around $34 untested. In the meantime, Binance Coin is teetering at $27.4 as bears stamp their feet down.

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