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Cryptocurrencies Price Prediction: Bitcoin, Ripple & Cryptos – American Wrap 05 September

Cryptocurrencies Price Prediction: Bitcoin, Ripple & Cryptos – American Wrap 05 September
FXStreet TeamFXStreet TeamFXStreet

Optimism fading for BTC/USD?

Down -4.0% month to date, Bitcoin (BTC) versus the US dollar (USD) is extending last week’s -7.3% fall.
Ripple (XRP) dipped to $0.54, erasing 1.81% of its value on the day. The payment remittance firm had submitted a letter requesting a stay on the monetary portion, the $125 million settlement in its recent lawsuit, on August 7. The Securities & Exchange Commission (SEC) consented to the request. 
XRP
Bitcoin (BTC) recovered on Wednesday after retesting its daily support level of around $56,000, but the 2.15% decline on Thursday suggests this rebound may be fleeting. The downtrend may persist if BTC drops below the $56,000 support, evidenced by Lookonchain and Arkham intelligence data indicating institutional selling, alongside bearish on-chain signals such as decreasing daily active addresses and a declining Coinbase premium index.
Bitcoin long-to-short ratio chart
 

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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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