The price of Ripple (XRP) has corrected upward to retest the $0.65 price level. It is likely that the cryptocurrency will face renewed selling pressure if it is rejected at the recent high. On June 22, the bears had earlier broken the previous low at $0.65.

This signals the resumption of selling pressure on the downside. The altcoin fell to a low of $0.53 and resumed its uptrend. XRP price corrected to the upside and retested the price level of $0.65. If buyers push XRP above the high of $0.65, the downtrend is likely to end. XRP/USD price will rise to retest the previous highs of $1.10 and $1.60. Currently, buyers are finding it difficult to break above the $0.65 price level. However, if Ripple faces rejection at the $0.65 high, the crypto is likely to fall to $0.33 low. More information: please click here

The US Congress recently passed at least two cryptocurrency bills that are supposed to facilitate mainstream adoption of digital currencies. The bill, called the Blockchain Innovation Act, and part of the Digital Taxonomy Act were passed as part of the broader US Consumer Safety Technology Act of 2020.

On June 23, the U.S. Congress approved two previously proposed cryptocurrency bills that will become laws once approved by the executive branch. The first bill, the Blockchain Innovation Act, aims to explore the feasibility of using blockchain to combat fraud. The bill specifically wants the government to develop Blockchain-powered systems to detect unfair and fraudulent practices. More information: please click here

Binance Coin (BNB) is in a positive uptrend. The current uptrend is facing resistance at the $310 high. The resistance at $310 is the previous support from May 29. In that price action, the market rallied up to $420 high.

In today's price action, BNB is likely to face rejection at the recent high. If the price of the cryptocurrency is rejected at the recent high, Binance Coin will fall to $255. Moreover, the current uptrend is approaching the overbought area of the market. This will attract the emergence of sellers to push the prices down. On the other hand, if buyers overcome the resistance at $310, the cryptocurrency will rise to either $380 or $420. More information: please click here

Cardano (ADA) is making positive moves to previous highs. The crypto fell to the previous low at $1.01 and recovered above the current support. The altcoin rallied to $1.24 and back up after a pullback.

By all appearances, it is likely that ADA will retest the high of $1.40. On the upside, if the bullish momentum extends above $1.60 high, ADA will be in the bullish trend zone.

ADA/USD will be out of the downward correction. It is likely that Cardano will resume an upward momentum. However, the upside move is likely to face rejection at the $1.40 high. In previous price action, ADA was range-bound below resistance at $1.40 before it was breached. ADA /USD is trading at $1.275 at the time of writing. More information: please click here

Ever since Bitcoin experienced one of its largest pullbacks in May this year, critics have once again used this volatility to attack Bitcoin, saying it is not a good store of value because its price can fall 40% in a week. While that argument sounds logical at first, my own deeper analysis delivers a rather alarming result.

To determine if Bitcoin is a good store of value, I compared it with the globally recognised store of value – Gold, to see if Bitcoin measures up.

To see how Gold and Bitcoin have fared over time, I looked up the long-term charts of the both of them. Gold started free trading in 1971 after the USD unpegged from it so I would start tracking Gold from 1971, while Bitcoin was born at the end of 2008. More information: Please click here

Ripple's (XRP) price has slumped to $0.57 at the time of writing. At the same time, the bulls buy the dips to resume upward but the selling pressure has overwhelmed the bullish move. This renewed selling pressure was caused by the crypto’s confinement in a range.

On June 8, XRP dropped to $0.78 and resumed a range-bound move between $0.78 and $0.90. After a week of price fluctuations, the bears broke below the $0.78 support. More information: please click here

Polkadot (DOT) has fallen to $22 low from the previous high of $29. Since the crypto began falling, DOT price was making a series of lower highs and lower lows.

When the price fell and made a lower low at $20, the crypto rebounded above the current support and rallied to the previous lower highs. The rally was stalled at the lower high of $26.

The selling pressure resumes as bulls fail to break the $26 high. The current downtrend is likely to extend to the low at $20. Since June 8, the DOT price has been retesting the support at $20. Nevertheless, the crypto’s price has broken below the moving averages signaling the resumption of a downtrend.More information: please click here

As China is continuing to crack down on Bitcoin and cryptocurrency mining and trading, more provinces in the country are implementing the decision. However, in an attempt to stop such environmentally unfriendly and high-energy-consuming activities, the prices of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) are negatively being affected.

The latest authorities to make a move on the matter are the ones from Ya’an, a city in southwestern Sichuan province, that promised to screen and rectify all cryptocurrency mining companies operating within its jurisdiction. More information: please click here