Ripple slips amid mixed performance in crypto market

Ripple fell slightly during trading today amid a mixed performance of cryptocurrencies with investors assessment in the global markets for the US Federal Reserve's decision, and also as the trade war today escalated.

The US central bank cut interest rates yesterday by a quarter of a point to 2.25% and hinted that it could be cut again for the second time this year.

US President Donald Trump said today that the United States will impose a 10 percent tariff on imports of Chinese goods worth $300 billion from September.

Analysts expect investors to take cryptocurrency as a hedge against global crises and the sharp losses in equity markets.

The Iranian authorities today revealed a campaign to confiscate 117 smuggled machines used in the mining of Bitcoin and its sisters, as part of the measures led by Tehran to reduce the excessive consumption of energy.

In terms of trade, by 21:14 GMT, Ripple fell by 0.1% to $0.32, with a high of $0.32 and a low of $0.31.

Bitcoin rose by 3.4% to $10,390, the highest at $10501.6 and the lowest at $9883.1.