Cryptocurrencies Price Prediction: Ripple, Ethereum & Cryptos – American Wrap 1 February

FXStreet Team FXStreet

Ripple price breaks technical structure after executive’s personal XRP accounts were compromised

Ripple (XRP) price is broadly bearish on lower time frames, but the higher ones show the bulls still have a chance to recover. Specifically, a triangle governs the monthly time frame and could define the next directional bias as it fills out soon.

Ethereum monthly transaction count climbs to highest level since July 2022

Ethereum (ETH) recorded a monthly transaction count of 36.02 million, marking its highest in 20 months.

LayerZero launches name service Clusters, competes with Ethereum Name Service

Layer Zero, an interoperability protocol that connects over 50 blockchains and helps build cross-chain applications, is powering a naming protocol Clusters, in collaboration with Delegate. This is similar to the Ethereum Name Service (ENS) and addresses users’ challenge of maintaining separate identities across multiple chains in a native manner.

Clusters will help users maintain a unified identity while interacting with dApps and services in the Web3 ecosystem.

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FXStreet Team

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Ripple extends losses as derivatives interest cools

Ripple (XRP) extends its bearish roll near $1.12 support on Friday, reflecting intense headwinds in the broader crypto market largely attributable to macroeconomic pressure.

Crypto Today: Bitcoin, Ethereum, XRP weaken further as capital outflows persist

Macroeconomic headwinds continue to weigh heavily on the cryptocurrency market on Friday, prompting major assets like Bitcoin (BTC) to pare earlier gains and extend losses after June’s brief relief rally.

Bitcoin Weekly Forecast: Recovery hopes fade after the Fed spoils the party

Bitcoin is set to end the week in the red, trading near the 200-Week Simple Moving Average at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds point to a sixth consecutive week of outflows.

Sui risks a deeper bearish leg despite on-chain resilience

Sui is down 2% on Friday, extending its decline toward the recent support leg formed at $0.6618. The Total Value Locked in the Sui ecosystem has stabilized around 600 million SUI tokens, reflecting resilient user demand.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.