Cryptocurrencies Price Prediction: Bitcoin, Polygon & Ripple — American Wrap 08 April

FXStreet Team FXStreet

Ripple Price Forecast: XRP could drop 5% as trading volume indicates a lack of initiative among bulls

Ripple price continues to trade horizontally for almost two consecutive weeks as both bulls and bears showed a lack of initiative. The token's trading volume adds credence to the waning investor interest as it was only up by a meager value. Presumably, this lack of momentum comes as investors wait for the long-overdue ruling in Ripple's legal tussle with the Securities and Exchanges Commission (SEC).

Polygon NFT marketplaces observe no growth despite network adoption rising by 337%

Polygon Non-Fungible Tokens (NFTs) failed to take off due to the contagion that the crypto market faced in Q2 and Q4 last year owing to Three Arrows Capital and FTX. But even after the market recovered in the last few months, the conditions did not change for Polygon, even as its competitors witnessed growth.

NFT trading volume on Polygon, Solana and Ethereum

Banks resort to investing in Bitcoin as faith in USD continues to decline

Bitcoin has been expected to benefit from the recent bank failures, but this effect is not only visible to the average Joe but to Banks as well. The fall of Silicon Valley Bank, Signature Bank and Silvergate Bank, along with the worsening economic conditions, could act as a potential trigger for a rise in faith in crypto assets.

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FXStreet Team

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Bitcoin remains under pressure, trading above the $87,000 support at the time of writing on Tuesday. Selling pressure has continued to weigh on the broader cryptocurrency market since Monday, triggering declines across altcoins, including Ethereum and Ripple.