Cryptocurrencies Price Prediction: Binance, Ethereum & SEC vs Ripple– American Wrap 18 August

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Binance Coin Price Forecast: BNB could crash 35% amid mounting bearish signs

Binance Coin price is edging closer to a key support level at $221, which has held its own since February 2021. A breakdown of this critical barrier would be a major development for BNB and would paint a picture of the buyers’ outlook. In such a case, investors can expect steep correction to subsequent support floors.

Single trader lost $55M on Ether long yesterday

An unknown single trader, or a trading entity, lost $55 million on an ether trade against Binance USD (BUSD) on crypto exchange Binance as crypto markets plunged suddenly late on Thursday, data shows.

SEC vs Ripple, the legal battle intensifies as XRP holders expect new changes from SEC appeal

XRP community members have been closely following the US Securities & Exchange Commission’s (SEC) every move against Ripple. In the latest update, the regulator’s request to file a motion for interlocutory appeal has been approved by the court. Ripple filed its opposition to the SEC’s request on August 16. However, Judge Torres replied on Thursday, allowing the SEC’s filing.

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Ripple nears lifeline support as macro risks intensify

Ripple continues to face significant selling pressure, sliding below $1.10 at the time of writing on Wednesday. This decline mirrors the broader weakness in the crypto market, exacerbated by mounting macroeconomic headwinds and persistent geopolitical uncertainties.

Crypto Today: Bitcoin, Ethereum, XRP trade under pressure as September Fed rate-hike odds increase

Bitcoin is trading between $62,000 and $63,000 at the time of writing on Wednesday, weighed down by headwinds stemming from macroeconomic uncertainty and geopolitical tensions in the Middle East, especially as the US and Iran continue to offer conflicting accounts of the nuclear discussions.

Cardano vulnerable to deeper losses amid SecondFi exploit

Cardano price hovers below $0.1500 at press time on Wednesday, extending a refreshed bearish impulse move of over 20% in the last nine days. The exploitation of the Cardano ecosystem’s SecondFi wallet-generation software, resulting in a loss of about 16 million ADA, weighs on retail strength.

Bitcoin struggles as institutional demand remains weak

Bitcoin remains under pressure, trading around $62,700 on Wednesday after losing 2% the previous day. Persistent institutional selling, with spot Exchange Traded Funds (ETFs) recording outflows on Tuesday, continues to weigh on BTC.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.