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Cryptocurrencies Price Prediction: Bitcoin, DeFi & Ripple – American Wrap 17 January

Cryptocurrencies Price Prediction: Bitcoin, DeFi & Ripple – American Wrap 17 January
FXStreet TeamFXStreet TeamFXStreet

Bitcoin price still underwater as Grayscale moves $1.35 billion worth of BTC to Coinbase since spot ETF assent

Bitcoin (BTC) price slipped below the confines of an ascending parallel channel, which has been the governing chart pattern since around mid-October when the cryptocurrency market turned bullish. It comes after the January 12 crash, following revelations that Grayscale Bitcoin Trust (GBTC) was dumping.
Recent research by on-chain aggregator IntoTheBlock shows that the majority of exploits in the decentralized finance (DeFi) space are the result of unaudited projects. With this, the study concludes that while an audit may not guarantee safety, it should certainly be a minimum requirement for DeFi protocols.
 

SBI Holdings is an ally of cross-border payment remittance firm Ripple. The firm unveiled plans to issue Non-Fungible Tokens (NFT) assets on the XRPL chain, according to a document from a recent meeting. 

XRP price has been in a downward trend that started in November 2023. The altcoin’s recovery is likely to be catalyzed by bullish developments in the ecosystem. 

XRP/USD

Overview
Today last price0.5696
Today Daily Change-0.0061
Today Daily Change %-1.06
Today daily open0.5757
 
Trends
Daily SMA200.5914
Daily SMA500.6114
Daily SMA1000.5956
Daily SMA2000.5827
 
Levels
Previous Daily High0.5798
Previous Daily Low0.566
Previous Weekly High0.6236
Previous Weekly Low0.5447
Previous Monthly High0.6989
Previous Monthly Low0.5778
Daily Fibonacci 38.2%0.5712
Daily Fibonacci 61.8%0.5745
Daily Pivot Point S10.5679
Daily Pivot Point S20.56
Daily Pivot Point S30.5541
Daily Pivot Point R10.5817
Daily Pivot Point R20.5876
Daily Pivot Point R30.5954

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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