Verge (XVG) Surges As PayPal Stops Payments to Pornhub Models

verge cryptocurrency

  • Verge (XVG) is on a surge in the past few hours as the news of PayPal stopping payments to Pornhub models seems to have triggered a rush towards the token.
  • XVG/BTC spikes since announcement targeting 68 sats.

XVG/BTC Breaks Resistance At 44 Sats as PayPal Stops Pornhub Payments

Verge is among the 3 cryptocurrencies that Pornhub accepts for its Model Payment Program. In the past 24 hours, the price of XVG/USD has remained rather stagnant in a falling crypto market, a move that saw the coin appreciate against BTC. While the spike in XVG/BTC seems to be of natural market factors, the recent news of PayPal banning payment channels to Pornhub adult performance may have a played a role in the spike above the resistance level at 44 satoshis.

According to the official adult site FAQ page, the official payment channels remaining are Paxum, Check, Verge cryptocurrency and direct bank deposit. Could this new development push XVG to new heights?

Not So interested

While Verge remains a viable payment option for the performers, the complexity of the crypto industry discourages models from accepting cryptocurrency payments. One award winning performer, Shyla Jennings, prefers bank account deposits to ‘crypto payment portals’ as she replied to Token Pay on Twitter,

Verge (XVG/BTC) Targets Resistance Level at 68 Sats

Looking at the daily charts, the price has broken from its bearish channel resistance level at 44 sats showing signals of a possible bullish run in the coming days. Bouncing off support at 36 sats, the price of XVG has gradually grown against the pioneer crypto signaling a possible bottom for the pair.

Source TradingView

A close above the bearish channel resistance level signals a possible run upwards to resistance levels at 49 sats, 56 sats and major resistance at 68 sats.

Source: TradingView

Notwithstanding, the widening of the MACD cross offers hope for strength on XVG bulls to push the price towards resistance level at 68 sats. A close above 43 sats on the current daily candle spells doom for XVG/BTC bears as it’s a confirmation of the end of the bear trend persisting since April.

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