Cryptocurrencies Price Prediction: Ripple, VeChain & Crypto – European Wrap 12 July

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Ripple CEO says institutional adoption is coming, XRP extends gains by 5%

Ripple (XRP) traders’ sentiment turned positive on Friday, as CEO Brad Garlinghouse highlighted the addition of XRP-Dollar reference rate and indices to the CME Group and CF Benchmarks.

The CME Group is a leading derivatives marketplace, and CF Benchmarks is an FCA-regulated Benchmark administrator. The addition of XRP indices shows how the asset is heading towards finding utility in institutional crypto products.

VeChain break above descending trendline sparks rally speculation

VeChain (VET) price broke above a descending trendline earlier this week, suggesting a bullish trend ahead, and consolidates around 0.0263 on Friday. Potential buyers on the sidelines may consider accumulating VET from $0.0247 to $0.0239 before anticipating an upward rally in the coming days.

VeChain price broke above the descending trendline, drawn by joining multiple swing highs from June 7 to July 8, on Tuesday and rallied 4% in the next two days.

Corporates have weighed in on crypto once again

The crypto market capitalisation fell by 0.8% in 24 hours to $2.11 trillion. An attempt to strengthen the market's offensive on news about inflation in the US attracted new sellers, which this time can easily be linked to the similar dynamics of the Nasdaq index, with which crypto has the closest correlation.

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Ripple risks deeper decline toward $1.00

XRP clings to short-term support at $1.10, but persistent selling pressure leaves it vulnerable to a further 10% drop toward $1.00. XRP remains largely defined by a bearish technical structure, with major moving averages and momentum indicators edging lower.

Crypto Today: Bitcoin, Ethereum, XRP slide as capital outflows persist

The cryptocurrency market is experiencing broad-based declines on Tuesday, as Bitcoin retests support at $62,000, Ethereum extends losses toward $1,600, and Ripple remains anchored near the key $1.10 demand zone.

Bitcoin struggles amid renewed US-Iran peace uncertainty

Bitcoin (BTC) trades below $63,000 at the time of writing on Tuesday as conflicting signals from the US and Iran regarding the progress of peace negotiations continue to fuel geopolitical uncertainty.

MiCA regulations could be the next bullish catalyst for crypto – Georg Harer, co-CEO at Bybit EU

The next bullish narrative for crypto could be MiCA regulations, which could drive liquidity from traditional markets, Bybit EU co-CEO Georg Harer says. Improved regulations could provide guardrails to avoid black swan events like Terra Luna and FTX, thereby limiting volatility.

Bitcoin: Recovery hopes fade after the Fed spoils the party

Bitcoin (BTC) is set to end the week in the red, trading near the 200-Week Simple Moving Average (SMA) at around $62,300 on Friday. Institutional selling persists, capping BTC’s recovery as spot Exchange Traded Funds (ETFs) point to a sixth consecutive week of outflows.