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Cryptocurrencies Price Prediction: Bitcoin, Stellar & Ripple – European Wrap 20 February

FXStreet Team FXStreet

Bitcoin Price Forecast: BTC consolidation continues as market prepares for the next major move

Bitcoin (BTC) has been consolidating between $94,000 and $100,000 since February 5. Glassnode reports weakening capital inflows and declining derivatives activity, with short-term holder accumulation resembling challenging market conditions.

In an exclusive interview, YouHodler Chief of Markets Ruslan Lienkha told FXStreet that a prolonged high-rate environment adds selling pressure to the markets, making Bitcoin trade sideways without any clearly defined trend.

Stellar Price Forecast: XLM’s Total Value Locked reaches over $62 million

Stellar (XLM) price trades inside a channel pattern; a breakout indicates bullish momentum. Crypto intelligence tracker DefiLlama data shows that XLM’s TVL reaches $62 million while the technical outlook projects a target of $0.74.

Stellar price trades inside a channel pattern formed by connecting multiple highs and lows with two trendlines from late November. This technical pattern breakout favors the bulls, and the target is generally obtained by measuring the distance between the first daily high and the first daily low to the breakout point. Moreover, XLM’s price has been retested, and support for its 200-day Exponential Moving Average (EMA) has been found at $0.284. At the time of writing on Thursday, it trades at around $0.343.

XRP record gains as SEC acknowledges CoinShares, Canary and WisdomTree's XRP ETF filings

Ripple's XRP saw a 6% uptick above $2.70 in the early Asian session on Thursday following the Securities & Exchange Commission’s (SEC) accelerated acknowledgment of XRP ETF filings. Meanwhile, asset manager Hashdex could launch the world's first spot XRP ETF in Brazil after receiving the country's SEC-equivalent authority approval.

The SEC acknowledged XRP ETF filings from Nasdaq and Cboe BZX exchanges on behalf of CoinShares, Canary Capital and WisdomTree, respectively, per three separate Wednesday filings on the agency's website.

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CLARITY Act approval odds sink fast ahead of Congressional hearing

The US House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence (AI) is holding a hearing titled “Building the Future of Finance: How the CLARITY Act Unlocks Innovation” on Friday.

Crypto Today: Bitcoin, Ethereum, XRP give back gains as tit-for-tat US-Iran strikes persist

Bitcoin has corrected by more than 1% on the day, trading below $63,000. This is part of a larger retracement from its weekly high of $65,600. Ethereum and Ripple similarly reflect overall pressure, with ETH falling toward the short-term $1,800 support and XRP hovering below the pivotal $1.10 level.

Dogecoin nears yearly low as bearish bias grows

Dogecoin extends its decline on Friday, trading near its yearly low at $0.069 as bearish sentiment continues to weigh on the meme coin. Weakening derivatives metrics and a deteriorating technical outlook suggest a deeper correction if DOGE slips below $0.069.

Pi Network Price Forecast: Mild recovery in PI marks early signs of trend reversal

Pi Network (PI) shows a mild recovery on Friday, following three consecutive days of consolidation, as selling pressure eases after a steep decline earlier this month. Speculative demand for a potential rebound in PI is on the rise as its Open Interest remains elevated.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.