- US proposes new stablecoin law
- S&P Dow Jones Indices to launch cryptocurrency indexes in 2021
- Ripple breaks triangle formation
S&P Dow Jones to make its own Crypto Asset Index
S&P Dow Jones Indices, a division of financial data provider S&P Global Inc, announced yesterday that it will launch cryptocurrency indices in partnership with crypto data provider Lukka in 2021. S&P will provide the branding of the index, while Lukka will handle the data. Company plans to launch indices for more than 550 of the top traded coins and clients will be able to work with them to create customized indices.

Ripple breaks below lower limit of the triangle formation
Ripple been trading in an upward trend recently. However, upward momentum has clearly slowed down as of late. Looking at the D1 time frame, we can see that Ripple failed to break above the local consolidation range at 0.6788, signaling that the correction move may be on the cards. Today price break below the lower limit of the triangle formation.

Looking at the H4 time frame, we can see that price is testing 50 SMA (green line). Should sellers manage to b reak below it, then declines could deepen. In such a scenario, the $0.45 handle could be the first target for market bears.

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