Cryptocurrencies Price Prediction: Ripple, PancakeSwap & Bitcoin — Asian Wrap 08 October
XRP slides 4%, cedes to BNB as third-largest crypto
XRP fell 4% in intraday trading on Tuesday, fueled by an increasing wave of FUD among investors. The cryptocurrency saw its highest level of retail FUD since US President Donald Trump announced tariffs in April, according to crypto analytics platform Santiment. The shift in sentiment signals growing impatience for a rally, with bearish XRP comments outweighing bullish statements across social media platforms.
Top Crypto Gainers: PancakeSwap, BNB, DeXe rally on token burns, on-chain inflows
The Decentralized Exchange (DEX) token, CAKE, is down 1% at press time on Wednesday, reflecting a breather phase after two consecutive days of gains, resulting in over 30% gains so far this week. Fueling the recovery run, PancakeSwap announced in an X post on Tuesday that the weekly net token mint was -753k CAKE, burned from circulation alongside the total product burns of 894k CAKE, worth $3.24M. With the deflationary trend in motion, demand could experience linear growth, creating a positive feedback loop with the CAKE token price.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP dip on profit taking
Bitcoin reached a new all-time high of $126,199 on Monday after surging more than 10% in the previous week. However, BTC failed to continue its rally and corrected by 2.67% on Tuesday. At the time of writing on Wednesday, BTC hovers around $121,000. If BTC continues its correction and closes below $120,000, it could extend the decline toward the next daily support level at $116,000.
Author
FXStreet Team
FXStreet
