This Simple Bullish Pattern Suggest Ripple (XRP) Could Surge Above $0.25

Ripple is up over 2% and it is showing positive signs above the $0.2400 resistance zone against the US Dollar. XRP price is likely to accelerate gains if it clears the $0.2500 resistance. Ripple price started consolidating gains after it rallied towards the $0.2500 level against the US dollar. The price is currently trading nicely above the $0.2400 and $0.2380 support levels. There is a key rising channel forming with support near $0.2410 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair remains well supported…

Government-Backed Tokenized Gold With ‘Killer Features’

The Universal Protocol Alliance — a consortium of crypto firms comprising Bittrex Global, Ledger, CertiK, and Uphold —  has launched a token backed by the Western Australian government-owned Perth Mint. The tokens, dubbed ‘Universal Gold’ or UPXAU, can be purchased on Uphold and spent using the firm’s debit card. Investors can purchase UPXAU from $1 with no investment limits. Unlike mainstream gold products which often have 0.4% monthly custody fees, the token is free to hold. In a July 30 announcement, JP Thieriot, Uphold’s chief executive, said the token had…

Ethereum Smashes Another Hurdle: A Strong Case for Upside To $350

Ethereum gained more than 4% and it surged above the $335 resistance against the US Dollar. ETH price traded to a new monthly high at $343 and it could rise further to $350. Ethereum started a fresh increase above the $325 and $335 resistance levels. The price traded to a new monthly high at $343 and it settled well above the 100 hourly simple moving average. There was a break above a crucial contracting triangle with resistance near $320 on the hourly chart of ETH/USD (data feed via Kraken). The…

‘The Full Reality of ETH 2.0 Is Still Years Away’

Kosala Hemachandra, the founder of MyEtherWallet (MEW), has told Cointelegraph the fully-fledged version of ETH 2.0 is still years away. The first phase of the Ethereum 2.0 upgrade was originally set for Jan 2020 but then postponed to coincide with this week’s fifth anniversary.  It’s since been delayed again with a launch now expected sometime between November and early 2021. While Hemachandra believes Phase 0 will launch sometime this year, he points out the full version of ETH 2.0 will not be up and running before 2022: “I think the…

Tokenized Real Estate Hasn’t Lived Up to the Hype: Property Researcher

As the initial coin offering (ICO) boom subsided and the 2018 crypto bear trend began to set in, many analysts predicted that security tokens may drive the next market cycle — with the vast capital locked in the real estate sector being eyed hungrily for tokenization. However, with the Bitcoin halving, Ethereum 2.0, and the emergence of DeFi capturing the imagination of crypto markets recently, real estate tokenization is no longer the flavor of the month, and some are questioning its viability. Real estate tokenization in 2017/2018 In an article…

XRP Is Up 30% and Has 30 New Whales

The number of accounts holding more than one million XRP has increased by 3.7% with 30 new whales appearing over the last two weeks, according to Santiment’s holder distribution chart.  These investors now hold between $240,000 and $2.4 million in XRP each, which has contributed to upwards pressure on price. After a fairly uninspiring few months, XRP has seen a price rise of over 30% from $0.19 to $0.25 in a fortnight. At least 30 big investors with deep pockets believe the price rise is set to continue. XRP Holder…

Here’s Why 100 SMA Could Trigger Fresh Surge

Bitcoin is currently consolidating in a range above the $10,700 support against the US Dollar. BTC is likely to start a fresh surge as long as it is above the 100 hourly SMA. Bitcoin is trading in a contracting range above the key $10,700 support zone. The price seems to be facing a couple of key hurdles near the $11,200 and $11,250 levels. There is a major contracting triangle forming with resistance near $11,240 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay…

Russian Interest in Paxful’s P2P Platform Surges 350%

Data from Bitcoin (BTC) marketplace Paxful shows a huge surge of interest in cryptocurrency peer-to-peer trading in Russia, with 350% growth on a year-over-year (YoY) basis. According to the study, from the period of May 2019 to May 2020, Paxful is now seeing an average monthly trading volume of $4M in Russia. The company says that this number “exceeds expectations,” together with the YoY usage increase figures. The last three-months saw a 42% increase, with May recording the best monthly performance amid the COVID-19 pandemic. The virus is one of…

William Shatner’s NFT Collectibles Sell Out at Warp Speed

Digital collectibles featuring personal memorabilia from the actor best known as Captain Kirk of the USS Enterprise have sold out in just minutes. Non-fungible token (NFT) trading cards featuring images from William Shatner’s personal life and career, from the 1930s to today, sold out in nine minutes according to WAX. The online marketplace for virtual items offered 10,000 “packs” for sale, featuring roughly 125,000 digital collectibles in total. Collectors can now buy, sell, and trade the cards amongst themselves. Some of the scenes included Shatner’s headshots and characters from his…

Is the Growing Correlation Between Bitcoin and Gold a Bullish Sign?

As Bitcoin (BTC) rallied to its 2020 high of $11,392 this week, its correlation with gold increased and at the moment, BTC’s monthly correlation with gold on daily returns sits at 0.66, according to data from CryptoCompare.  The correlation started to increase as gold broke through $1,900, nearing a new high before pulling back alongside Bitcoin.  The increase in correlation represents a trend shift as the relationship between the two had previously been falling according to data from Kraken exchange’s research team. BTC monthly correlation on daily returns. Source: CryptoCompare…