Summary:

• Ripple (XRPUSD on xStation5) surged yesterday following the news coming from Singapore
• Bitcoin (BTCUSD) has failed of closing a bullish gap
• Gibraltar gets first Bitcoin ATM and works on cryptocurrency regulations

Main focus of all who are interested in cryptocurrencies was on Ripple yesterday as it soared substantially getting the fourth-largest market capitalization in the whole digital currencies market. A surge was a consequence of a speech delivered by Singaporean Prime Minister Lee Hsien Loong. He alluded to a need to make e-payments more widespread. He also laid out an exemplary case – China – which had gone the furthest with e-payments.

Ripple (XRPUSD) exceeded Litecoin (LTCUSD) in terms of market capitalization. Source: coinmarketcap.com

Singaporean PM suggested a need to make the country a “Smart Nation”. According to him, Smart Nation is about Singapore taking full advantage of IT. Using IT comprehensively to create new jobs, new business opportunities, to make our economy more productive, to make our lives more convenient. He added that even as “our schools are teaching students basic computing and robotics, we lag behind other cities in several areas, for example, electronic payments.”

Ripple has surged on the news coming from Singapore but it has failed to hold gains. In effect, the price has remained under a medium-term trend line. Source: xStation5

While the price of Bitcoin has weakened of late, a favorable story has come from Gibraltar. The country’s first Bitcoin ATM (BTM) was installed in the reception area of the World Trade Center Gibraltar, the center announced last week. The British Overseas Territory on Spain’s south coast has a population of about 34,408 as of 2016. The BTM accepts British pound sterling, Gibraltar pounds as well as Euro notes.

Bitcoin has failed to close a bullish gap entirely, it’s rebounded since then. However, a level in the vicinity of $3,510 could be an encouraging buying opportunity. Source: xStation5