Bitcoin Cash Rally Threatened As Exchange Drops BCH Following XRP Listing Rumors

Bitcoin Cash followed the general growth trend of Bitcoin, with the price almost breaking through the $250 resistance before being rejected. Even if BCH maintains this bullish momentum, it is not completely clear after its delisting from a crypto exchange.

EDX Markets Removes Bitcoin Cash

In another unexpected move, Bitcoin Cash (BCH) has been delisted from the EDX Markets cryptocurrency exchange. Users initially suspected that the exchange was ending support for BCH and the rumors spread like wildfire on social media. Eventually, the crypto exchange would confirm these rumors, with a spokesperson revealing that EDX Markets was indeed no longer offering support for BCH.

Unlike the norm, EDX Markets did not give any indication as to why the cryptocurrency was delisted from the exchange. Instead, users were asked to sign up for the newsletter to get updates on listings, as well as check the website for supported parts.

Interestingly, this comes at a time when rumors are circulating that EDX Markets may be considering listing XRP. This would make sense given that many exchanges have resisted the cryptocurrency following Ripple’s SEC victory. Since then, XRP volume has been high and crypto exchanges are clamoring for a chance to get a piece of the pie.

BCH prices struggle to hold

Following the rejection of the $250 level, the price of Bitcoin Cash (BCH) struggled to continue its previous trajectory. The fall towards the $240 level dented a good portion of the long positions before the bulls could take over.

However, the BCH daily trading volume continues to see good momentum after increasing by 36% in one day. On the contrary, it shows that there is still some interest in altcoin trading attracting a lot of attention from market participants.

The main resistance to a BCH breakout currently lies at the $250 level. If the price manages to break through this resistance, then the rally is likely to continue and could reach $270 before running out of steam. But it is still far from the annual high of $300.

At the time of writing, BCH is trading at $243 with losses of 3.75% on the weekly chart. However, it is performing much better over the past day after rising 2.23%.

BCH price at $237 | Source: BTCUSDT on Tradingview.com

Featured image from Analytics Insight, chart from Tradingview.com