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Cryptocurrencies Price Prediction: Ripple, Binance & Crypto – European Wrap 13 June

Cryptocurrencies Price Prediction: Ripple, Binance & Crypto – European Wrap 13 June
FXStreet TeamFXStreet TeamFXStreet

Ripple makes three major announcements, fails to push XRP past $0.50 barrier

Ripple (XRP) made three major announcements this week. Despite the bullish developments, XRP is struggling to break past resistance at $0.50. Ripple’s stablecoin, XRPL EVM sidechain, and new acquisition have failed to catalyze gains in the ledger’s native token. 

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Whale deposits over $8 million in five tokens to Binance

On-chain intelligence tracker Spotonchain has identified a trader who sent five crypto assets worth nearly $8.38 million to Binance on Thursday. The same wallet has done similar moves involving other tokens previously, realizing millions in gains. 

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Crypto growth derailed

The cryptocurrency market failed to get on the growth rails, losing 0.7% in 24 hours to $2.44 trillion, near end-of-day levels on Wednesday. The positive effect of the soft inflation report was erased by the Fed's comparatively tightening stance, which suppressed appetite for risk assets. This is clearly visible in the demand for cryptocurrencies despite the rally in the S&P500 and Nasdaq100 indices.

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FXStreet Team

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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