Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Ripple — Asian Wrap 06 August

FXStreet Team FXStreet

Ethereum on route to recovery after sustaining over $380 million in liquidations

Ethereum (ETH) is down 11% on Monday after taking heavy losses from the general crypto market crash. While the decline heavily hit long traders, they look set to stage a comeback following increasing exchange outflows.

Bitcoin could repeat post-COVID style rise: Bitwise

In a memo to investors on Monday, Bitwise Chief Investment Officer (CIO) Matt Hougan noted that the recent crypto market crash has provided an "opportunity" for Bitcoin (BTC) to replicate a similar move to its rise post-COVID lockdown.

XRP suffers 7% drop on Monday, hovers around $0.50 support

Ripple (XRP) shared several key updates in its Q2 2024 report. The bullish updates in the report have failed to catalyze gains in XRP since the altcoin was hit by a market-wide crypto correction that pushed it under psychological support at $0.50.

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XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

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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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