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Cryptocurrencies Price Prediction: Ripple, Ethereum & Bitcoin — Asian Wrap 12 December

Cryptocurrencies Price Prediction: Ripple, Ethereum & Bitcoin — Asian Wrap 12 December
FXStreet TeamFXStreet TeamFXStreet

Ripple's XRP could rally to $4.75 despite rising profit-taking among investors

Ripple's XRP continued its rally on Wednesday as it looks to test the upper boundary of a key flag channel. Following the recent price rise, investors booked profits worth nearly $800 million while options traders bet on the remittance-based token hitting the $5 mark.

Ethereum Price Forecast: ETH eyes new yearly high as whale and institutional holdings increase

Ethereum (ETH) is up 6% on Wednesday after bouncing off the support level near $3,550. The spot market shows institutional investors and whales maintained a bullish sentiment, potentially scooping up ETH at lower prices during the recent dip.

Bitcoin reclaims $100K following release of US CPI data for November

Bitcoin (BTC) surged above $100K on Wednesday following the release of the US November Consumer Price Index (CPI) data, which came in line with expectations at 2.7%. Crypto investors quickly reacted to the report as market participants now anticipate that the Federal Reserve (Fed) will cut rates by 25 basis points (bps) next week.

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