RPX (Red pulse) was listed on Binance exchange today (RPX/BNB, RPX/BTC and RPX/ETH). Let’s understand the current RPX price action, medium term forecast and prediction.
RPX coin started its journey in November with price around $0.05. Later, the price gained a lot of momentum and traded above the $0.50 and $0.60 levels. However, it could not gain momentum above $0.80 and declined sharply below $0.20 (data feed by coinmarketcap).
Red Pulse (RPX) Listing on Binance Exchange
Today, there was a big day for RPX coin as it was listed on one of the most popular cryptocurrency exchange – Binance. The company listed the RPX/BNB, RPX/BTC and RPX/ETH pairs on the exchange.
The price gained momentum and traded as high as 0.00059500ETH before collapsing. RPX price is currently trading at $0.27 (0.00031401ETH) and is slowly gaining upside momentum.
RPX Price Prediction, Chart and Analysis
It seems like RPX coin price is forming a base around the $0.115 support. It is slowly moving higher and is currently trading above the $0.25 level. An immediate resistance is around the $0.30 level.
However, the most important resistance is around the $0.40 level, which can be considered as a pivot level. The new listing on the Binance exchange has pushed the price in the positive zone.
If the price continue to move higher and succeeds in breaking the $0.40 level, it could easily move above the $0.60 level in the near term. Above $0.60, the price may perhaps attempt to test the $0.80 and $1.00 levels.
Update – The price now seems to be forming a base around the $0.25 level and it may consolidate in the short term.
However, a break above the $1.00 handle won’t be easy until there are some positive development news from the Red Pulse Team. The current market sentiment in the cryptocurrency market is improving and major digital currencies such as bitcoin, Ethereum, ripple, bitcoin cash and litecoin gained upward momentum.
Bitcoin and Ethereum are facing major hurdles on the upside, both are likely to range trade in the short term before the next move.
If you want more updates on Litecoin, Bitcoin and cryptocurrency market, you can follow us on twitter at finance_minutes. Please note, this is not an investment advice. Read our disclaimer for more information.