Cryptocurrencies Price Prediction: Bitcoin Cash, Litecoin & Ripple – European Wrap 8 May

FXStreet Team FXStreet

Bitcoin Cash reclaims $250 as a BCH-based DeFi startup raises $1 million in seed fund

Bitcoin Cash price advanced higher above $250 as BTC/USD surged above $10,000. The price action extended above towards $260 but hit a wall at $258 (intraday high). In the meantime, BCH/USD has adjusted lower to $250 as selling pressure makes a comeback. Generally, the entire cryptocurrency market is bearish during the European session.

Litecoin Price Analysis: LTC/USD falling within a descending channel

Litecoin price action continues to follow the confines of a descending channel after the recovery in the last week of April stalled under $50. The channel support remains instrumental in slowing down the selling pressure. Also vital to the buyers is the short-term support range; $44 - $45.

Ripple Price Analysis: XRP/USD stays in a range, fails to follow Bitcoin's recovery

XRP/USD has retreated from Thursday’s high of $0.2223 to trade at $0.2152 by press time. The coin has stayed mostly unchanged since this time on Thursday and lost about 1.5% since the beginning of Friday. Ripple’s XRP has been locked in a tight range since the start of the week, despite sharp Bitcoin’s recovery. Now it is the third-largest digital coin with a current market value of $9.5 billion and an average daily trading volume of $2.6 billion.

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Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen

Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.

Meme Coins Price Prediction: DOGE, SHIB, PEPE stall amid warming retail demand

Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), struggle to regain strength as the broader cryptocurrency market recovers. Derivatives data reveals fresh retail demand as Open Interest of DOGE, SHIB, and PEPE futures surge.

Terraform Do Kwon gets 15-year prison sentence for role in Terra-Luna $40 billion crash

Terraform Labs founder Do Kwon was sentenced to 15 years in prison by a New York federal court on Thursday for his role in organizing one of the largest cryptocurrency frauds in history.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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