LMAX Group, a provider of institutional execution venues for FX and digital asset trading, has announced a new development for LMAX Digital clients. They can now access Ripple USD (RLUSD) Stablecoin.

The XRPUSD H1 chart indicates that the price has been moving upwards following a bounce at a horizontal level. A nearby resistance may be encountered, and a breakout could potentially drive further upward movement.

RLUSD Added to LMAX Institutional Trading

The addition is part of LMAX Group’s ongoing effort to expand its institutional trading infrastructure. The inclusion of RLUSD is intended to offer institutions better access to highly liquid assets in a transparent market environment.

In October of the previous year, LMAX Group, which provides institutional execution venues for FX and digital assets trading, announced its acquisition of FX HedgePool, an institutional swaps matching service.

This move follows LMAX’s acquisition of Cürex’s FX business, a New York-based company specializing in institutional foreign exchange execution services and data analytics, which occurred 12 months earlier. FX HedgePool brings expertise in the FX swaps and forwards market, complementing LMAX’s existing institutional client base in FX trading.

XRPUSD Breakout Possible Above 2.37350

The XRPUSD H1 chart suggests that the 2.22600 level has served as a significant support point, with the price consolidating at this level for a period of time before moving upwards after forming a bullish engulfing candle. This price action indicates potential upward momentum.

The 2.37350 level is likely to act as a resistance, as the price has encountered this level multiple times in the past, reacting to it consistently. Buyers may look for a breakout above this resistance level to maintain the upward momentum. However, if the price faces resistance at this level, it could lead to a slowdown in price movement or potentially result in a bearish trend on shorter timeframes.

This article was written by Tareq Sikder at www.financemagnates.com.CryptoCurrencyRead More

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