Cryptocurrencies Price Prediction: Ripple, Pi Network & Bitcoin – American Wrap 08 July

FXStreet Team FXStreet

Ripple Price Forecast: XRP hints at 18% breakout as traders eye US tariffs developments

Ripple (XRP) is gradually edging higher, backed by steady interest in the token, especially in the derivatives market. A slight increase of over 1% on Tuesday sees the token hovering at around $2.28, offering technical signals of a potential 18% breakout above an inverse head-and-shoulders (H&S) pattern.

Pi Network Price Forecast: Whales challenge rising supply pressure with 2 million PI token purchase

Pi Network (PI) edges lower by nearly 1% and trades at $0.45 at press time on Tuesday as the available wallet balance of centralized exchanges (CEX) grows, suggesting increased supply pressure. However, the large transactions over the last 24 hours reveal two whale transactions acquiring over 2 million PI tokens. Still, the technical outlook suggests a bearish bias, indicating a potential retest of the $0.40 mark.

Bitcoin hovers below 109K as Trump extends the tariff deadline

Bitcoin continues to hover below the 109k level with a new ATH above 112k still looking elusive, as the 110k level offers strong resistance.

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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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