• Ripple’s rally (XRPUSD on xStation5) faces some obstacles
  • Egyptian central bank weighs in to the first Bitcoin (BTCUSD) exchange launch
  • will be gradually supporting Bitcoin Cash

We wrote about an outstanding rally seen on Ripple yesterday which was yet extended to some extent. However, after striking $0.295 the price has retreated slightly which could be a first sign of fatigue. Albeit, there is no doubt that the Singaporean story could provide a more long-lived boost for that digital currency. This is especially true if Singapore begins implementing some facilities to make e-payment more convenient to inhabitants. Either way, let us notice that an uptrend is very powerful, hence cautiousness in selling the virtual currency is warranted in particular.

link do file download linkRipple has surged lately but has faced some hurdles which could give rise to some pullbacks. Back-to-back retracements might be eyed as targets for sellers. Source: xStation5

In terms of the latest news coming from all around the world, there was a story from Egypt which could be a bad one for Bitcoin. There have been some revelations from there about the first Bitcoin exchange launching in the country. However, that hasn’t met with a nod from the authorities as a senior official at the country’s central bank promptly issued a statement that no entities have been authorized to trade Bitcoin. On top of that, acting Chairman of the Egyptian Financial Supervisory Authority (FSA), Reda Abdel Moaty, said in a brief statement last week, that the authority has not issued any licenses for digital currency exchanges in Egypt.

link do file download linkMeanwhile, Bitcoin has broken through an important resistance (a support right now) placed at $4,175. Thus, a move towards its all-time high could be in the offing. Source: xStation5

Another story which, in turn, could be beneficial for Bitcoin Cash came from (the world’s leading software platform for digital assets). The company wrote in its statement on the blog that it would support Bitcoin Cash (BCH) and within the next 8 weeks they would be rolling out limited support for the new digital currency. The firm added that users with balances of Bitcoin in their Blockchain Wallet on August 1st will be able to access an equal balance, as of August 1st, of BCH.