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Cryptocurrencies Price Prediction: Ripple, Bitcoin & Solana – American Wrap 12 September

FXStreet Team FXStreet

Ripple jumps after Grayscale launches XRP trust in the US

Ripple (XRP) rallied as much as 10% on Thursday following the announcement of a new vehicle for institutional investment. The altcoin corrected and has sustained 4% gains for now. Asset management giant Grayscale announced the creation of a single-asset investment fund for XRP.

Bitcoin eyes $60,000 as technical indicators point to rally ahead

Bitcoin (BTC) price trades slightly higher around $58,000 on Thursday after finding support around the $56,000 level on Wednesday, supported by an improved market mood for risk assets. This recovery happens despite US Bitcoin Spot Exchange Traded Funds (ETF) recorded mild outflows on Wednesday. On-chain data projects a rise in Bitcoin’s price as its exchange reserves are decreasing and the long-to-short ratio trades above one.

Why Solana traders need to watch for selling pressure on SOL

A crypto wallet identified as being related to the bankrupt FTX exchange’s address redeemed over $23 million from Solana staking on Thursday, according to data from Solscan. Solana traders need to watch the address to see whether the SOL tokens are transferred to a centralized exchange as this could increase the selling pressure for the coin, which trades at around $135 at the time of writing.

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FXStreet Team

FXStreet

Monero risks extending correction as market structure weakens

Monero (XMR) is extending its downtrend, below the $500 level at the time of writing on Wednesday, as sellers remain dominant during the American session. XMR has declined by approximately 38% from a recent high of $800, reached last Wednesday.

Ripple holds support as traders remain cautious

Ripple (XRP) is navigating a critical juncture as price action stabilizes above $1.90 at the time of writing on Wednesday. The cross-border remittance token came under aggressive selling earlier this week as macroeconomic and geopolitical tensions escalated.

Bitcoin struggles below $90,000 amid easing risk appetite, increasing bearish pressure

Bitcoin price hovers around $89,000 on Wednesday, after falling 8.79% over the past 6 days. Risk appetite continues to fade amid turmoil in Japan’s bond market and renewed geopolitical tensions between the US and the EU.

Crypto Today: Bitcoin, Ethereum, XRP stabilize despite weakening institutional, retail demand

Bitcoin holds below $90,000 on Wednesday, weighed down by weakening institutional and retail demand. Ethereum defends $2,900 support amid resumption of spot ETF withdrawals. XRP holds above $1.90 as US-listed spot ETFs record the second outflow since launch.

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Bitcoin: BTC bulls remain strong amid institutional demand, risk-on sentiment improves

Bitcoin (BTC) price holds above $95,500 at the time of writing on Friday after rallying more than so far 5% this week. The rising institutional and corporate demand supports the bullish price action in BTC.