Cryptocurrencies Price Prediction: Ripple, Solana & XDC Network — Asian Wrap 8 July

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Ripple CEO to speak on need for crypto market structure legislation ahead of Crypto Week

Ripple CEO Brad Garlinghouse announced on Monday that he will address the Senate Banking Committee on the need to pass the crypto market structure legislation ahead of the House's Crypto Week, scheduled for next week. The announcement failed to impact XRP's price, which is down 0.7% over the past 24 hours.

Solana ETF could get green light after SEC prepares general framework for crypto ETF approval

The Securities & Exchange Commission (SEC) allegedly plans to introduce new listing standards for issuers to launch crypto exchange-traded funds (ETF), according to reports on Monday. The development comes as regulators asked potential Solana (SOL) ETF issuers to adjust and resubmit their filings before the end of July.

Crypto Gainers Today: XDC, AB, BONK tokens hold momentum as Bitcoin slips under $108,000

XDC edges higher by nearly 2% on Tuesday, printing its seventh consecutive bullish day. The uptrend nears the 200-day Exponential Moving Average (EMA), close to the $0.067 resistance level, last tested on June 11. Price action indicates a double bottom formation, with the $0.067 level serving as the neckline and the baseline at $0.057, excluding the price movements on June 22 and 23, outliers due to volatility spikes.

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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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