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Cryptocurrencies Price Prediction: Ethereum, XRP & Solana – American Wrap 23 May

Cryptocurrencies Price Prediction: Ethereum, XRP & Solana – American Wrap 23 May
FXStreet TeamFXStreet TeamFXStreet

Ethereum reclaims $3,800, lawmakers urge SEC Chair to approve ETH ETF

Ethereum (ETH) bounced back after a brief dip on Thursday as US lawmakers penned a letter to Securities & Exchange Commission (SEC) Chair Gary Gensler, urging him to approve spot ETH ETFs. Hong Kong regulators are also discussing whether issuers can offer ETH staking to investors.
ETH/USDT 4-hour chart
XRP is among trending cryptocurrencies on Thursday after Coinbase (COIN) Chief Legal Officer Paul Grewal announced that the crypto exchange has relisted the digital token for its clients in New York. Coinbase removed the token across its US markets in January 2021 due to a lawsuit that the Securities & Exchange Commission (SEC) filed against XRP's parent company, Ripple.
 
The price of Solana's native token, SOL (SOL $172), has fallen by approximately 2% in the last 24 hours to reach $173.20. This drop is part of a correction that began two days ago, resulting in an overall decrease of approximately 8.25% thus far.
Chart
 

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Ripple tumbles as sell-side pressure intensifies

Ripple tumbles as sell-side pressure intensifies

Ripple edges lower and trades at $1.45 on Wednesday, as headwinds intensify across the crypto market. Major crypto assets remain in bearish hands, with Bitcoin falling below $84,000 and Ethereum below $2,800.

Crypto Today: Bitcoin, Ethereum and XRP fall liquidating $550M

Crypto Today: Bitcoin, Ethereum and XRP fall liquidating $550M

Bitcoin’s correction follows a recent rejection due to supply around $87,200. Altcoins are generally in a correction trend, as Ethereum edges lower toward the next key support at $2,600 and Ripple extends its down leg near the $1.45 demand area.

Polygon extends decline as shutdown rumors fuel panic selling

Polygon extends decline as shutdown rumors fuel panic selling

Polygon is down nearly 5% on Wednesday, amid selling pressure linked to rumors of a network shutdown sparked by a social media post. Derivatives data shows a sell-side dominance as Open Interest declines 13% over the last 24 hours while funding rates flip negative.

Pi Network Price Forecast: Steady decline risks a lower leg below $0.080

Pi Network Price Forecast: Steady decline risks a lower leg below $0.080

Pi Network (PI) continues to extend a bearish phase over the last seven days, risking a breakout below the $0.0800 round figure. The social chatter surrounding the PI token is on the rise, likely driven by investors’ fear.

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin: Is BTC setting up for an Uptober rally?

Bitcoin (BTC) extends its gains, trading near $86,000 at the time of writing on Friday after closing September 6.33% up, reversing its seasonal weakness. Historical data suggest October could be a strong month for BTC, especially after a positive September.