Cryptocurrencies Price Prediction: Decentraland, Ripple & Cardano — Asian Wrap 07 Jan

FXStreet Team FXStreet

Decentraland experiences wild price swings but MANA may continue slide to $2

Decentraland price is very close to confirming one of the most sought-after short-entry setups in the Ichimoku Kinko Hyo system: the Ideal Bearish Ichimoku Breakout. If confirmed, a prolonged downtrend is highly probable. Decentraland price could be positioning for a more extended downswing than initially anticipated.

XRP holds on to $0.75 but failure to hold support could trigger a deeper drop

XRP price faces continued pressure to the downside despite finding some temporary support against the critical $0.75 value area. Directional bias is most definitely weighted to the downside. XRP price action returned to a support zone it previously tested back in December.

Samsung partners with Cardano based project Veritree for its new initiative

Cardano-based projects Veritree was chosen by Samsung for its latest environmental initiative. The electronics giant is keen on leveraging blockchain technology for transparency in tree planting. Veritree, a fully integrated platform powered by the Cardano network, aims to transform restoration through blockchain technology.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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