The Crypto.com coin price moved sideways in the past two days even after some relatively positive news from Visa, the card processing company. The CRO price is trading at $0.2152, which is slightly above yesterday’s low of $0.2140. It’s total market cap has risen to more than $5 billion, making it the 21st biggest digital currency in the world.
What happened: Visa was in the headlines yesterday after the company announced that it will start settling payments using the USD Coin for the first time. To accomplish this mission, the company will use Crypto.com, a company that offers multiple crypto services like exchange and wallet.
Therefore, this is a sort of validation of both USD Coin, Crypto.com, and the Ethereum blockchain. If the test becomes successful, Visa will. Make it available to other fintech companies and neo banks that deal with digital currencies.
For starters, USD Coin is a stablecoin developed by Circle and Coinbase. It is an Ethereum-based coin that is backed by the US dollar.
The four-hour chart shows that the CRO price has been in a tight range recently. It is currently slightly above the lower line of the ascending channel and has moved slightly above the 25-day moving average. T
he RSI has also moved close to the overbought level of 70. Therefore, the price may keep rising as bulls target the upper side of the channel at $0.28. However, a drop below $0.20 will invalidate this trend.