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

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

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. 
Ripple
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.
Bitcoin Spot EFT Net Inflow chart
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. 
SOL
 

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