Cryptocurrencies price prediction: XRP, SOL & Crypto Market - American Wrap - 19 06
|XRP price downside risks escalate as Ripple urges the UK to advance stablecoin adoption
Ripple (XRP) has maintained a technical bearish bias, trading at around $2.15 at the time of writing on Thursday. The constrained price action mirrors a lull in sentiment and the lack of conviction in the broader cryptocurrency market to sustain recovery. This lukewarm trading overshadowed key adoption news on the launch of XRP spot Exchange Traded Funds (ETFs) in Canada on Wednesday.
Solana price slips as Canadian Sol Strategies files with US SEC to list on NASDAQ
Solana (SOL) price upside action stays subdued, leaving the smart contracts token vulnerable to downside risks. SOL is trading at $145 at the time of writing on Thursday, weighed down by elevated risks in the derivatives market.
Bitcoin Price Forecast: BTC on the verge of a breakdown amid possible US strike on Iran
Bitcoin (BTC) price edges slightly higher, trading near $104,700 at the time of writing on Thursday, after stabilizing above a key level, the 50-day Exponential Moving Average (EMA) at $103,100. A breach below this level could trigger a sharp fall in BTC. The risk aversion could weigh in, as reports say US officials are preparing for a strike on Iran in the coming days. Despite this risk-off sentiment in global markets, institutional demand remained robust, with a positive inflow in US spot Bitcoin Exchange Traded Funds (ETFs) for the last eight consecutive days.
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