Cryptocurrencies Price Prediction: Ripple, Robinhood & Bitcoin – American Wrap 20 May

FXStreet Team FXStreet

Ripple Price Prediction: XRP futures realize $2.4 million trading volume on CME launch

Ripple (XRP) price trades broadly sideways around $2.34 on Tuesday, marking its second straight day of minor declines. This tight, range-bound action coincides with the launch of XRP futures on CME Group’s derivatives platform. CME Group received the green light to list XRP futures contracts after the Commodity Futures Trading Commission (CFTC) categorised XRP as a commodity. The product targeting institutional and retail traders is cash settled and relies on the CME's reference data, which is updated daily.

Maker, Quant extend gains as Robinhood submits RWA proposal to the SEC

Maker (MKR) and Quant (QNT) are holding onto their 24-hour gains on Tuesday, riding the wave of renewed investor interest in real-world asset (RWA) tokens. This surge comes amid a significant development in the crypto space, with Robinhood submitting a 42-page proposal to the United States (US) Securities and Exchange Commission (SEC) to establish a federal regulatory framework for issuing and trading RWA tokens.

Neither the US rating nor Coinbase's problems hurt Bitcoin

Moody's US credit rating downgrade spooked Bitcoin, but not for long. According to HSBC, the recent trade truce between Washington and Beijing changed the game. It has permanently raised global risk appetite, allowing digital assets to flourish. Could the loss of the States' latest top rating stop the BTCUSD bulls? As it turns out, no.

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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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