Cryptocurrencies Price Prediction: Bitcoin, Ripple & Monero – European Wrap 14 May

Bitcoin Price Forecast: BTC retreats as focus turns to Ukraine-Russia peace talks

Bitcoin (BTC) is stabilizing near $103,500 at the time of writing on Wednesday, following multiple failed attempts to break above the $105,000 resistance level. Ukraine-Russia negotiations in Istanbul starting on Thursday could act as a bullish catalyst for risk assets, including BTC, if talks bear fruit. Meanwhile, BTC’s market structure stays healthy, with funding rates turning mildly positive, mirroring the constructive conditions seen during previous bull runs like October 2023–2024.

The Washington Post report on Wednesday highlights that Russia and Ukraine are set to hold their first high-level, face-to-face negotiations since 2022, taking place this Thursday in Istanbul.

Ripple Price Forecast: XRP steadies, keeping uptrend intact as $1 billion in futures open interest boom stimulates speculation

Ripple’s (XRP) price trades broadly stable at around $2.60 on Wednesday, upholding the recent bullish trend as crypto markets cheer amid improved sentiment. The uptrend, now in its second consecutive week of gains, is bolstered by a surge in XRP futures Open Interest (OI), growing by more than $1 billion, signaling increasing trader confidence and adding to the chances of a potential breakout above $3.00.

XRP's consistent price increase from the tariff-triggered crash to $1.61 in April continues to attract traders and investors. Glassnode’s data released Tuesday revealed a remarkable surge in the XRP futures OI by more than 41.6%, or by over $1 billion, in leverage positions in a week. 

Monero market cap surpasses Pepe’s after hitting four-year high

Monero (XMR) price extends its gains for a seventh consecutive day on Wednesday, trading above $340 for the first time since August 2021. With the latest price rally, the privacy-focused cryptocurrency's market capitalization has reached $6.43 billion, overtaking that of popular meme coinPepe. On-chain data shows that XMR open interest continues to climb, suggesting strong buying interest and increased investor participation.

CoinGecko data show that Monero’s market capitalization reached $6.43 billion on Wednesday, surpassing that of the Pepe meme coin and currently taking the 29th position in the overall crypto market capitalization table.