Cryptocurrencies Price Prediction: Chainlink, Luna Classic and Ripple – European Wrap 5 December

FXStreet Team FXStreet

Chainlink staking goes live in less than 48 hours, will LINK outshine altcoins?

Chainlink network is witnessing a spike in accumulation by large wallet investors as staking goes live in less than 48 hours, introducing LINK holders to an opportunity to earn rewards. Chainlink price could breakout soon, hitting the $7.80 level.

Luna Classic set to enable Inter Blockchain Communication, LUNC price eyes bullish breakout

Luna Classic, the native token of the original Terra blockchain is set to re-enable communication and information sharing with Cosmos chains. This is considered a key event in Luna Classic’s development journey as it boosts LUNC’s utility for holders.

XRP bulls in spotlight as SEC v. Ripple court filing hints at early closure

XRP price could make or break based on the outcome of Ripple Labs case with the US Securities and Exchange Commission (SEC). In the latest twist and turn in the courtroom drama, Ripple (XRP), which is a cross-border payment settlement firm and one of the largest public holders of XRP itself, filed a redacted reply in response to the SEC’s motion against a summary judgment. XRP price outlook remains bullish, the next target for the altcoin is the $0.41 level.

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FXStreet Team

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Ripple faces persistent bear risks, shrugging off ETF inflows

Ripple is extending its decline for the second consecutive day, trading at $2.06 at the time of writing on Friday. Sentiment surrounding the cross-border remittance token continues to lag despite steady inflows into XRP spot ETFs.

Luna Classic soars 20% as Do Kwon's sentence hearing looms

Luna Classic surges 20% on Friday, extending its recovery for the fourth consecutive day. Roughly 959 million tokens have been burned in December so far, fueling LUNC's recovery.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

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Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.

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