Cryptocurrencies price prediction: XRP, Monero & Cryptos – American Wrap 21 January
|XRP trades under pressure amid declining retail demand
Ripple (XRP) is navigating a critical juncture as price action stabilizes above $1.90 at the time of writing on Wednesday. The cross-border remittance token came under aggressive selling earlier this week as macroeconomic and geopolitical tensions escalated.
The crypto market has fallen through the ice
The crypto market capitalisation fell below $3T, slightly exceeding this round level at the start of active trading in Europe, but losing more than 2% in 24 hours. The market is once again below the 50-day moving average, and the growth momentum at the start of the year seems to have fallen through thin ice. The current situation contrasts with last year's market behaviour, when we saw two dips below this trend line.
Monero Price Forecast: XMR risks extending correction as market structure weakens
Monero (XMR) is extending its downtrend, below the $500 level at the time of writing on Wednesday, as sellers remain dominant during the American session. XMR has declined by approximately 38% from a recent high of $800, reached last Wednesday.
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