Ripple ready to invest more
According to coindesk.com, Blockchain payments startup Ripple would be ready to make new investments and acquisitions, with a few deals reportedly underway, according to the company CEO.
This announcement comes in light of Ripple’s Q2 report, which detailed the company’s total sales of its native token XRP increasing by nearly 48% to $251 million. This growth was driven primarily by a strong uptick in institutional sales.
Bitcoin may turn bearish
Bitcoin has hovered around a narrowing price range at the end of the last week, neutralizing a bullish trend.
From a mere technical point of view, a bullish trend needs a UTC close above last Wednesday’s high of $12,145, according to a double inside bar pattern seen on the daily chart.
Otherwise, the mood would turn bearish if prices print a UTC close below Wdnesday’s low of $11,388.
The probabilities of a bearish UTC close would rise if Bitcoin breaks lower from the contracting triangle seen on the intraday charts.
Bitcoin outperforms Gold
Bitcoin is outperforming gold, as uncertainty increases in the global markets due to the trade war between China and the United States.
The world’s most famous cryptocurrency has risen to $11,700, or +16% on a month-to-date basis. Meanwhile, gold, the most wee-known safe-haven asset, has risen +6% this month, or 10 percentage points less.
Gold price rose above $1,500 on August 9 after the U.S. President Donald Trump’s decision to escalate trade tensions with China triggered a flight to safety.