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Cryptocurrencies Price Prediction: Ripple, Cryptos & Meme coin – American Wrap 02 June

Cryptocurrencies Price Prediction: Ripple, Cryptos & Meme coin – American Wrap 02 June
FXStreet TeamFXStreet TeamFXStreet

Ripple price forecast: XRP risks nearly 20% drop if losses extend, targets $1.76

Ripple (XRP) faces legal uncertainty in its battle with the United States (US) Securities and Exchange Commission (SEC), and the XRP price continues to slide. At the time of writing, XRP is trading at $2.1540, down 1.20% in the day.

XRP

Crypto Today: Market sentiment weakens amid Russia-Ukraine tensions; Bitcoin ETFs see first weekly outflow since mid-April

The cryptocurrency market is showing early signs of weakness at the start of this week on Monday as risk-off sentiment escalates amid rising tensions in the Russia-Ukraine war. 

Total Bitcoin Spot ETFs weekly chart. Source: SoSoValue

SPX6900 meme coin eyes bullish reversal amid Open Interest surge and golden cross

SPX6900 (SPX) meme coin edges lower on Monday after a 13% surge the previous week. However, SPX still holds over 6% gains over the last 24 hours at press time. Despite the short-term struggle to hold above $1, the technical outlook, with an EMA crossover and a pattern breakout, alongside the soaring Open Interest (OI), suggests a continuation of the bullish trend. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Kraken’s parent plans regulated US perpetual futures on Hyperliquid

Kraken’s parent plans regulated US perpetual futures on Hyperliquid

Hyperliquid has named Payward, the parent company of crypto exchange Kraken, as its intended first Commodity Futures Trading Commission-regulated deployer on HIP-3 markets. In an X post on Monday, Hyperliquid stated that Payward plans to use its infrastructure to deploy perpetual futures markets for US customers. The proposed arrangement remains subject to regulatory approval.

Pi Network Price Forecast: PI stalls as weak crypto sentiment caps recovery

Pi Network Price Forecast: PI stalls as weak crypto sentiment caps recovery

Pi Network holds steady above $0.0760 stalling after a roughly 2% rebound the previous day. The broader market's weak sentiment and reduced trading volume weigh on the PI token. The technical outlook is bearish, with price capped below a long-term resistance trendline and weak momentum.

Ripple and Stellar outlook: XRP and XLM remain under pressure as bearish momentum persists

Ripple and Stellar outlook: XRP and XLM remain under pressure as bearish momentum persists

Ripple and Stellar continue to remain under pressure, trading below $1.30 and $0.169 respectively, after a mild recovery the previous day. Both XRP and XLM remain below their key Exponential Moving Averages, indicating bearish price action. Moreover, mixed derivatives metrics and cautious on-chain data are capping sustained recovery in XRP and XLM.

Ripple secures OCC approval for National Trust Bank

Ripple secures OCC approval for National Trust Bank

Brad Garlinghouse, CEO of Ripple, announced in an X post on Monday that the Office of the Comptroller of the Currency (OCC) has granted final approval to charter Ripple National Trust Bank (RNTB). The federally supervised national bank demonstrates Ripple's progress toward building digital asset infrastructure within a regulated financial system.
Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.