Cryptocurrencies Price Prediction: EOS, Bitcoin & Ripple – European Wrap 19 May
|EOS uptrend falters ahead of token swap despite Vaulta’s DeFi TVL soaring to $246 million
EOS price slides on Monday to approximately $0.75, erasing a minor uptick on Sunday, while extending the drawdown from the May 10 high at around $0.99. The EOS network rebranded to Vaulta in the first quarter, paving the way for a web3 banking platform. Investors and cryptocurrency exchanges are preparing for the token swap from EOS to Vaulta (A), which is expected to start on May 26.
Bitcoin Price Forecast: BTC gives up weekend gains, signaling potential bull trap as momentum weakens
Bitcoin (BTC) starts the week on a weaker note, falling by more than 3% to around $103,000 at the time of writing on Monday after briefly rallying over the weekend. The price action has raised concerns among traders about a potential bull trap, especially as momentum indicators show early signs of exhaustion. Despite continued positive corporate and institutional flows in the form of spot Bitcoin Exchange Traded Funds (ETFs) and Meta Planet’s accumulation, bearish sentiment appears to be gaining ground in the short term.
XRP price offers mixed signals as broader cryptocurrency market swings between support and resistance
Ripple (XRP) price hovers at around $2.31 on Monday, extending its gradual drawdown from last week’s high of $2.65, as the broader cryptocurrency market swings between gains and losses amid shifting investor sentiment. A resumption of the uptrend towards $3.00 could gain bullish momentum after Ripple announced a strategic partnership with United Arab Emirates (UAE)-based Zand Bank and Mamo, adding its exposure to the region after securing the Dubai Financial Services Authority (DFSA) license in March.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.