Cryptocurrencies Price Prediction: Ripple, Bitcoin & Cryptos – American Wrap 20 October
|XRP signals steady recovery as open interest stabilizes around Q2 levels
Ripple (XRP) is extending its recovery, trading above $2.45 at the time of writing on Monday. Bulls have tightened their grip on the market since Friday's sell-off, which tested support at $2.18 amid last week's volatile conditions. If bullish sentiment steadies this week, XRP may broaden the uptrend above the next key hurdle at $2.61.
BTC/USD outlook: Recovery extends into second straight day
BTC/USD recovery extends into second straight day and cracks 111K barrier, following another strong downside rejection (Friday’s spike to 103500 zone and short-lived break below ascending 200DMA).
Geoff Kendrick, analyst at Standard Chartered: “Bitcoin’s target of $500,000 by end-2028 is 100% achievable”
Geoffrey Kendrick is the Global Head of Digital Assets Research at Standard Chartered. Kendrick met FXStreet during the European Blockchain Convention held in Barcelona on October 16-17, a few days after a record crypto crash wiped out over $19 billion in leveraged positions. While the episode flags the market’s volatile nature, Kendrick says that the long-term drivers remain favorable and thus higher prices for the major crypto assets can be expected.
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