Cryptocurrencies Price Prediction: Bitcoin, OKB & Ripple – European Wrap 4 September
|Bitcoin Price Forecast: BTC stabilizes as focus shifts to key macroeconomic data releases
Bitcoin (BTC) is holding steady around $110,800 at the time of writing on Thursday, having recovered slightly so far this week. Traders adopt a cautious stance ahead of key US macroeconomic data due to be released on Friday, which could influence the Federal Reserve’s (Fed) monetary policy outlook, keeping crypto markets on edge. Meanwhile, the spot Bitcoin Exchange Traded Funds (ETFs) continue to attract strong demand, recording over $300 million in inflows on Wednesday and extending their positive streak for a second consecutive day.
Bitcoin price started the week on a positive note, recovering slightly and hovering around $110,500 on Thursday, after extending its three-week trend of lower lows from its record high of $124,474.
OKB Price Forecast: Rising Open Interest fuels breakout rally optimism
OKB (OKB) erases part of the daily gains and trades below $180 at press time on Thursday. Still, the bounce back in OKB from the $165 support base prepares for a potential range breakout on the daily chart. The derivatives data point to increased optimism among traders, anticipating extended gains.
CoinGlass data shows that the OKB Open Interest (OI) has increased by 40% over the last 24 hours, reaching $29.10 million. The double-digit rise in OI reflects increased capital inflow as risk-on sentiment fuels OKB interest among traders.
Ripple expands RLUSD stablecoin into Africa through new partnerships
Ripple (XRP) is extending the reach of its RLUSD stablecoin into Africa through new institutional partnerships, marking a major step in its global expansion strategy. Beyond financial access, RLUSD is also being deployed in humanitarian pilot projects in Kenya. On-chain data shows a rising stablecoin with a market capitalization exceeding $700 million.
Ripple announced on Thursday that it is making its enterprise-grade, USD-backed stablecoin, Ripple USD (RLUSD), available to institutions in Africa through three new partnerships with Chipper Cash, VALR, and Yellow Card.
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