Cryptocurrencies Price Prediction: Ripple, Bitcoin & Cryptos – American Wrap 20 October

FXStreet Team FXStreet

XRP signals steady recovery as open interest stabilizes around Q2 levels

Ripple (XRP) is extending its recovery, trading above $2.45 at the time of writing on Monday. Bulls have tightened their grip on the market since Friday's sell-off, which tested support at $2.18 amid last week's volatile conditions. If bullish sentiment steadies this week, XRP may broaden the uptrend above the next key hurdle at $2.61.

BTC/USD outlook: Recovery extends into second straight day

BTC/USD recovery extends into second straight day and cracks 111K barrier, following another strong downside rejection (Friday’s spike to 103500 zone and short-lived break below ascending 200DMA).

Geoff Kendrick, analyst at Standard Chartered: “Bitcoin’s target of $500,000 by end-2028 is 100% achievable”

Geoffrey Kendrick is the Global Head of Digital Assets Research at Standard Chartered. Kendrick met FXStreet during the European Blockchain Convention held in Barcelona on October 16-17, a few days after a record crypto crash wiped out over $19 billion in leveraged positions. While the episode flags the market’s volatile nature, Kendrick says that the long-term drivers remain favorable and thus higher prices for the major crypto assets can be expected.

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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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