Bitcoin, Ethereum, XRP fall despite major cryptocurrency partnership announcement

• Bitcoin, Ethereum, and XRP fell nearly 2% as expectations for the upcoming US presidential election rose.
• Chainlink and SWIFT announce blockchain integration to simplify payments for financial institutions.
• Ripple and IBM will collaborate for secure storage of tokens on the company's crypto trading platform.

Bitcoin, Ethereum, XRP updates

• Bitcoin was trading at $66,476 early Wednesday morning. As the end of the month approaches, the largest cryptocurrency is nearly 11% away from its all-time high of $73,777. Historically, BTC has ended October on a positive note, with month-over-month gains for holders.
• Ethereum traded at $2,575 on the day, down nearly 2%. The second-largest cryptocurrency saw net inflows of $11.9 million on Tuesday, according to data from Farside Investors.
• XRP is down 1.33% on the day and is trading at $0.5268 at the time of writing.

Today's chart: Jupiter (JUP)

Jupiter (JUP) broke out of its downtrend on October 14th. JUP ranks as one of the top cryptocurrencies on Binance with the highest returns in a 24-hour time frame. At the time of writing, JUP is trading at $1.0476.

The token is likely to sweep liquidity at $0.9439, a level consistent with the fair value gap (FVG) on the daily time frame. JUP was able to correct 9.82%.

The Relative Strength Index (RSI) generated a sell signal when it crossed the 70 level on the daily time frame. The RSI reading is 71, which is usually considered a sell signal by traders.

JUP/USDT daily chart

A bearish thesis for JUP could be invalidated if the daily candlestick closes above the $1.0840 resistance level that coincides with FVG. Thereafter, JUP could rise towards the July 29 high of $1.2246.

Market Latest Information

• Chainlink has announced a merger with international payments giant SWIFT. Chainlink CEO Sergey Nazarov said: “This solution enables pre-settlement and transaction confirmation through Swift’s established messaging standard, which is already widely used by TradFi. After confirmation, Chainlink’s infrastructure converts these messages into blockchain events. and allows institutions to lock assets and make payments on-chain.”
• This partnership represents a significant development in the adoption of LINK and will likely be a bullish catalyst for the cryptocurrency.
• Ripple and IBM collaborate to secure cryptocurrencies on Garanti BBVA Kripto trading platform.
• The solution enables banks to build, deploy, and manage institutional-grade infrastructure for their customers.

Industry updates

• Analysts at QCP Capital say the market is pricing in a possible victory for former President Donald Trump. Trump's appearance at the Bitcoin conference in Nashville showed that he has a positive stance on cryptocurrencies, leading traders to expect Bitcoin to rise.
• Crypto protocol SUI has announced an integration with Google Cloud to enable real-time blockchain data for artificial intelligence (AI) and gaming applications.

• Binance, one of the world's largest centralized cryptocurrency exchanges, has shared plans for the delisting and trading suspension of all spot trading pairs: IDRT, KP3R, OOKI, and UNFI, according to its official blog.