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

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

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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