Cryptocurrencies Price Prediction: Ripple, Bitcoin & Aave – European Wrap 25 June

FXStreet Team FXStreet

Ripple holders realize over $30 million in losses in the past ten days, XRP fails to recover

Ripple’s price (XRP) struggles to hold above $0.48 on Tuesday and seems ready to extend its recent decline. According to Santiment data, investors have realized losses on their token holdings in the past ten days. This is typical of market capitulation, with traders likely distributing their tokens at a loss and expecting a decline in the asset’s price.

Bitcoin ticks up after dip driven by ETF outflows, Mt. Gox's plan to repay creditors

Bitcoin (BTC) price rebounds slightly on Tuesday, hovering around $61,000, after dipping 4.6% on Monday, when it broke below the descending wedge pattern. Mt.Gox's announcement of Bitcoin and Bitcoin Cash repayment to creditors in July coincided with a $174.5 million outflow from Bitcoin spot ETFs, marking seven consecutive days of continuous outflows.

Aave price poised for an 17% rally after rebounding in key support area

Aave (AAVE) price surged 10% following a retest of its critical support area on Monday, now trading 6% higher on Tuesday near $92.00. Recent on-chain data indicates a market capitulation event on June 22, alongside a rise in daily active addresses, suggesting bullish momentum in the days ahead.

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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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