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Cryptocurrencies Price Prediction: Solana, Ethereum & Ripple – European Wrap 18 October

FXStreet Team FXStreet

Solana Price Forecast: SOL gains 2% as community discusses Firedancer validator for better performance

Solana (SOL) price increases more than 2% on Friday, tracking the broad gains seen among the main cryptocurrencies, as its community discusses on social media the progress in the development of a new validator, Firedancer, that could boost the blockchain’s performance.

Solana is preparing for the mainnet launch of Firedancer, a high-performance validator being built by Jump Crypto, a Web3 infrastructure company. Firedancer went live on the testnet in September and the mainnet launch is expected in early 2025.

Ethereum Price Forecast: ETH demand must increase to fuel any rally

Ethereum (ETH) edges up slightly on Friday, adding to 6.5% gains so far this week after surpassing key resistance levels on Monday, bolstered by a net positive inflow of over $79 million through Thursday. Despite this influx, CryptoQuant’s Ethereum Coinbase Premium Index remains below neutral levels, indicating that demand must rise to sustain the anticipated rally.

Ethereum co-founder Vitalik Buterin said in a blog post published on Thursday that he wants the platform to process 100,000 transactions per second (tps). Ethereum’s rollup-centric roadmap, which combines Layer 2 scaling solutions, advanced data availability sampling, and data compression techniques, will achieve this 100,000 TPS goal, he said.

XRP trades above $0.55, confusion in appeals deadline could jeopardize SEC vs. Ripple lawsuit

Ripple (XRP) gains on Thursday as traders digest the uncertainty in the Securities & Exchange Commission’s (SEC) appeal in the lawsuit. A spokesperson from the US-based financial regulator has confirmed that the process has been followed and the relevant documents will be available publicly soon.

XRP traded at $0.5507 at the time of writing on Thursday. XRP has been in a downward trend since July 2023, as seen in the XRP/USDT daily chart. The altcoin could climb another 8.42% to hit its psychologically important level at $0.60. This is a key level for several XRP holders since the token has managed to break through on a few occasions since May 2024.

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Japanese Yen gains after hawkish Fed hold

USD/JPY trades near the 163.60 area on Wednesday, recovering from its immediate post-announcement decline as investors assess a generally hawkish Federal Reserve (Fed) monetary policy decision. The Federal Open Market Committee (FOMC) left the Fed funds rate unchanged within the 3.50%–3.75% range, as widely expected.

XRP edges up as Flare simplifies staking process

Ripple (XRP) holds modest gains, trading around $1.08 at the time of writing on Wednesday. The remittance token mirrors the general neutral-to-bullish outlook in the crypto market, as focus shifts to the Federal Reserve (Fed) rate decision. Market participants widely expect the Fed to leave interest rates unchanged in the 3.50%-3.75% range.

Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision

Cryptocurrency prices are broadly stable on Wednesday ahead of the Federal Reserve (Fed) interest rate decision. Bitcoin (BTC) holds above $64,000 but is struggling to sustain its rebound while Ethereum (ETH) sits above the short-term $1,900 support. Meanwhile, Ripple (XRP) is approaching the pivotal $1.10 resistance, a level that could shape the token’s upward trajectory if it is breached.

Bitcoin muted as markets fret over Fed, crypto bill

There are two main drivers for crypto this week, keeping Bitcoin trapped within its $58,000-$65,000 summer consolidation range. The cautious tone is being set by the Fed's policy decision scheduled later on Wednesday, a key catalyst for risk assets.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.