India’s Zebpay Exchange adds XRP/TRX Trading pair: Ripple (XRP) and Tron (TRX) Reject Support, trimming the gains

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India’s leading cryptocurrency exchange, Zebpay has announced that it is adding another trading pair. The assets today are XRP/TRX trading pair, besides the exchange added that more trading pairs should be expected in the coming days. It is not long ago that Zebpay launched crypto-to-crypto trading on its platform. Tron and Ripple have been honoured to be the first digital assets to trade on this platform.

The announcement was made via a Tweeter message and read, “Zebpay is excited to announce the launch of XRP market for crypto-to-crypto trading. The first pair we’re introducing is TRX/XRP. More crypto pairs coming soon. Happy Trading!”

The exchange’s followers on the social platform responded immediately congratulating it for picking the first digital assets. Norman Smith said, “Guys you are awesome. #xrp is much better to use than #btc.”

The CEO of Tron (TRX), Justin Sun thanked Zebpay for the listing, at the same time, Zebpay took the opportunity to announce its support for the upcoming mainnet launch for Eos and Tron networks. Zebpay wrote:

“EOS and Tron (TRX) are ERC20 tokens that run on Ethereum, but will soon migrate to their own blockchains. Zebpay is happy to announce full support for the both of these migrations.”

Ripple (XRP) Price Analysis

Ripple price is correcting lower on Friday down over 5% and even tested the supported level at $0.73. XRP/USD rejected the support areas at $0.80 and $0.77 trimming the gains made in the past few weeks. The crypto is currently trading at $0.74, besides it is supported immediately at $0.740. Ripple price is trading below the Simple Moving Averages which show that it could consolidate below $0.08 in the short-term.

On the upside, the buyers are pushing towards the 61.8% Fib retracement level with the previous swing high of $0.91 and a low of $0.731 close to $0.08, although the resistance at $0.77 must be overcome before attacking higher levels. Ripple price is lagging reaction to the listing on Zebpay. However, it could gather momentum to retrace its steps.

Tron (TRX) Price Analysis

Tron price just like Ripple rejected the support leading to further downside corrections. The price is giving in to the bearish wave in the cryptocurrency market even ignoring the listing on Zebpay exchange. TRX/USD traded highs of $0.089 during the session on Thursday 10 before drowning in selling pressure. The crypto broke below the key support areas highlighted on the charts at $0.078 and $0.075. TRX/USD, for the first time in May, tested $0.070 briefly before bouncing back up. However, the upside has been capped below $0.076 while it is currently trading at $0.0745. A short-term support has been formed at $0.0740, although further declines could be stopped at $0.0710 as the last resort towards $0.070.

Market Overview

The crypto market is highly bearish as the week’s trading comes to halt on Friday. Bitcoin is trading below $9,000 down 3.72%, similarly most the top ten cryptocurrencies are showing declines of between 3-10%. Bytecoin (BCN) is the only asset that is still hanging on the edge of a cliff, careful not to plunge to the negative side. The crypto has received negative criticism this week after it froze on the listing on the largest exchange, Binance. Cryptocurrency enthusiasts have termed it as an outright scam, however, the network released a statement on the matter to clear the air

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