Cryptocurrencies Price Prediction: Crypto, Bitcoin & XRP – European Wrap 31 January

FXStreet Team FXStreet

Altcoins surge in crypto comeback: Bittensor, Helium, and Solana lead speculative gains

Bitcoin has observed a decline in its social volume and dominance as seen on the on-chain metric provider Santiment. A decline in social volume indicates that market participants are discussing “Bitcoin” relatively less, and discussions of other altcoins are taking precedence.

Altcoins Bittensor (TAO), Helium (HNT) and Solana (SOL) emerged as notable performers among others in the crypto market recovery last week.

Bitcoin holders hopeful as Grayscale's GBTC outflow slows, signaling potential price recovery on the horizon

Bitcoin’s (BTC) price is recovering this week, trading shy of the $43,000 level on Wednesday’s European morning, after its recent drop to $38,555. Outflows from Grayscale’s GBTC have slowed down this week, easing the selling pressure for Bitcoin and likely catalyzing its recent recovery.

XRP is weaker than the market – Probably forever

The cryptocurrency market corrected 0.6% in 24 hours to a total capitalisation of $1.65 trillion. The correction was aided by pressure on global equity markets, which lost ground following the IT giants.

Bitcoin, trading near $43K, remains close to its 50-day moving average. It also 'rested' in the same area from the 12th to the 17th of January, so the current calm is not surprising.

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FXStreet Team

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Aave Price Forecast: Bearish RSI divergence risks a 20% drop despite steady DeFi deposits

Aave (AAVE) extends a mild near-term recovery, holding above its 50-day Exponential Moving Average at $90.80. Aave protocol’s V3 deployment on Monad blockchain recorded over $500 million in deposits over the last month, reflecting increased user adoption.

Dogecoin Price Forecast: Bullish divergence hints at DOGE recovery

Dogecoin (DOGE) steadies near $0.070 after falling 3.5% last week. While the broader trend remains bearish, improving derivatives metrics and bullish divergences in momentum indicators suggest that selling pressure may be easing, hinting at a potential recovery. Derivatives data shows bullish sentiment among Dogecoin traders.

Top Altcoins Price Forecast: Ripple nears triangle breakout while Cardano, Hyperliquid rebound

Ripple trades above $1.00, approaching the apex of a symmetrical triangle pattern. Cardano and Hyperliquid hold steady, sustaining gains from the recent rebound. The technical outlook for XRP is mixed while ADA and HYPE maintain a bullish bias. XRP maintains a mixed tone on the daily chart, trapped between two converging trendlines forming a symmetrical triangle pattern.

Ripple and Stellar outlook: XRP and XLM steady as derivatives data points to easing downside pressure

Ripple (XRP) and Stellar (XLM) show mixed price action on Tuesday, with XRP holding above the key $1 support zone while XLM faces rejection at $0.173. Meanwhile, improving derivatives metrics alongside fading bearish momentum suggest that the downside pressure may be easing for both altcoins. Derivatives data shows mild bullish sentiment among traders.

Bitcoin: Bulls hold the line

Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.