Cryptocurrencies Price Prediction: Ripple, GENIUS & HYPE – American Wrap 23 May
|Ripple Price Forecast: XRP exchange reserves soar signaling potential headwinds
Ripple's (XRP) mid-week recovery remains stable as the token's price hovers at $2.44 at the time of writing on Friday. The uptick from support at $2.29 on Monday mirrored broader risk-on sentiment in the cryptocurrency market, which boosted Bitcoin's (BTC) price to new all-time highs of around $111,980. However, key on-chain metrics like Exchange Reserves and Supply Distribution show mixed signals, urging trader caution, which could slow the XRP uptrend targeting $3.00.
JPMorgan, Bank of America, Citigroup, Wells Fargo consider stablecoin launch as GENIUS Act advances in US Senate
Major United States (US) banks, including JPMorgan Chase, Bank of America, Citigroup and Wells Fargo, are eyeing a joint stablecoin venture amid a potential seismic shift in crypto regulations following the advancement of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in the Senate.
CFTC’s plans for crypto perpetual trading puts focus on Hyperliquid’s HYPE
Hyperliquid’s native token, HYPE, jumped 15% on Thursday, outperforming the broader crypto market, after the team said it submitted formal responses to the U.S. Commodity Futures Trading Commission (CFTC) regarding proposed regulation of perpetual swaps and 24/7 crypto trading.
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