Cryptocurrencies Price Prediction: Ripple, Monero & Cryptos – European Wrap 2 October

FXStreet Team FXStreet

XRP open interest skyrockets as Ripple tests its stablecoin RLUSD

Ripple (XRP) has generated interest among derivatives traders as the payment remittance firm tests its stablecoin Ripple USD (RUSD). Ripple announced that the asset is awaiting regulatory approval and is geared toward institutions, not individuals. However, as the minting of RLUSD ramps up, there is a rise in open interest across derivatives exchanges.

Monero price falls below $150 as Kraken delists XMR in Europe amid regulatory changes

Monero (XMR) shows weakness trades in the red on Wednesday after losing over 6% the previous day. XMR dipped more than 10% at some point on Tuesday following Kraken’s announcement that it is delisting XMR trading in Europe, which supported this bearish move. Additionally, XMR’s long-to-short ratio shows that more traders anticipate the fall of the Monero price.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin dips below $61,000 amid escalating tensions between Israel and Iran

Bitcoin (BTC) and Ethereum (ETH) have closed below their key support levels, signaling a potential decline ahead, while Ripple (XRP) is retesting its crucial support level, with a break below likely indicating further downside.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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