Cryptocurrencies Price Prediction: Ripple, Bitcoin & Solana – European Wrap 20 July

Ripple Price: XRP bears retail control despite increasing retail demand

Ripple (XRP) faces sustained selling pressure as bears maintain control on Monday. The remittance token has struggled to break above the $1.10 resistance since last Thursday, as risk sentiment weighs.

Demand for XRP derivatives has gradually increased since last week, with the perpetual futures Open Interest (OI) averaging 2.4 billion XRP on Monday, up from 2.13 billion XRP the previous day. A broader scope shows OI averaged 2.09 billion XRP on July 7, underscoring steady growth in risk-on sentiment.

Bitcoin Price Forecast: BTC remains below key 50-day EMA as headwinds from escalating US-Iran conflict offset ETF inflows

Bitcoin (BTC) trades just below its 50-day Exponential Moving Average (EMA) near $65,000 on Monday, a key technical level that could determine its next directional move. Institutional demand via ETFs improved somewhat last week, providing some tailwind for the Crypto King, but the latest round of strikes between the US and Iran has dampened risk appetite.

US Central Command (CENTCOM) said on X that it has completed the ninth consecutive evening of strikes against Iran on July 19, at 10 p.m. ET. 

Solana Price Forecast: SOL risks further decline amid weak institutional, retail demand

Solana (SOL) price edges lower on Monday, maintaining a corrective tone from early July. Institutional demand remains muted, with two consecutive weeks of inflows under $1 million, while declining Open Interest and the funding rate point to bearish retail interest, even as trading volume rises by over 70% in 24 hours. 

Solana struggles to regain strength despite easing broader market risk-off sentiment. CoinGlass data show a minor contraction in SOL futures Open Interest (OI) over the last 24 hours, to $4.77 billion, despite a 78% increase in trading volume to $5.37 billion. Meanwhile, the funding rate has slipped below zero to 0.0023%, indicating that traders are willing to buy short positions at a premium.