Cryptocurrencies Price Prediction: Bitcoin, Ondo & Ripple – European Wrap 7 February

Bitcoin Weekly Forecast: BTC shows weakness, bears aiming for $90,000 mark

Bitcoin (BTC) price hovers around $97,000 on Friday after losing nearly 5% in the last three days. CryptoQuant weekly report shows that activity on the Bitcoin network has declined to its lowest level in a year. Traders should watch FTX's upcoming repayments to creditors starting on February 18, which could bring in volatility for Bitcoin prices.

Bitcoin price started this week with a sharp correction, reaching a low of $91,231. This correction was fueled by the implementation of US President Donald Trump's announced tariffs on major trading partners, including China, Canada, and Mexico, on Saturday, which exerted some selling pressure on the overall crypto market. 

ONDO Price Forecast: Ondo Chain launched while TVL rises to $654 million

Ondo (ONDO) price is nearing its key weekly resistance of $1.38 on Friday, and a firm close above this level hints at a rally ahead. Ondo announced on Wednesday that it launched its new Layer 1 blockchain called Ondo chain, which is purpose-built for institutional-grade Real World Assets (RWAs). Moreover, DefiLlama data shows that ONDO’s Total Volume Locked (TVL) has risen to nearly $654 million, hinting at a rally ahead.

Ondo announced on Wednesday that it launched its new Layer 1 blockchain called Ondo chain, which is purpose-built for institutional-grade RWAs. “Design advisors for the chain include new members of the Ondo Ecosystem: Franklin Templeton, Wellington Management, WisdomTree, Google Cloud, ABN Amro, Aon, and McKinsey.

XRP ETF gains traction as SEC acknowledges Grayscale filing for Solana and Litecoin funds

Ripple's XRP was in the limelight on Thursday following the Chicago Board Options Exchange (Cboe) 19b-4 filing to the Securities and Exchange Commission (SEC) to list and begin trading XRP exchange-traded funds (ETFs) for asset managers Canary Capital, WisdomTree, 21Shares and Bitwise. 

Likewise, the SEC acknowledged the New York Stock Exchange's (NYSE) 19b-4 filings for Grayscale's Solana and Litecoin ETFs. Cboe has filed a 19b-4 with the SEC to list and trade XRP ETFs from asset managers Canary Capital, Bitwise, 21Shares and WisdomTree. This marks a step of progress in the spot XRP ETFs race.