Cryptocurrencies Price Prediction: Dogecoin, Ripple & Solana – American Wrap 29 October

FXStreet Team FXStreet

Dogecoin price can hit $1 if DOGE can clear one critical hurdle

Dogecoin price is currently sitting inside a supply zone that has prevented it from making any progress for nearly five months. However, the resurgence of buyers has triggered a massive meme coin bull run, which provides DOGE with an opportunity to kick-start another leg-up.

XRP price rally imminent as SBI Holdings remains bullish on Ripple

SBI Holdings of Japan shares financial results for the first half of 2021. The financial services company group plans to use XRP as a bridge currency for its plans. Ripple’s enhanced utility value is expected to help drive up XRP price, with some technical analysts forecasting a target at $27.

Solana price could nearly double once SOL bulls can shatter this barrier

Solana price rose from October 20 to October 25, setting up two new higher highs. The buying pressure failed to sustain SOL, however, leading to a correction and a lower low. While the altcoin is trying to recover, a failure to do so could result in a steep correction.

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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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