Cryptocurrencies price prediction: XRP, Arbitrum & Crypto Market - American Wrap - 16 06

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Ripple Price Prediction: XRP flaunts potential breakout to $3.00 on surging risk appetite

Ripple (XRP) flaunts a short-term bullish outlook as part of the recovery from the sell-off encountered last week after Israel launched attacks on Iran, escalating geopolitical tensions in the Middle East. Meanwhile, XRP hovers at around $2.28 at the time of writing on Monday, rising by over 5% on the day.

Arbitrum shows resilience as bulls emerge amid $32 million token unlock

Arbitrum (ARB), a roll-up Layer-2 chain designed to enhance the scalability of the Ethereum (ETH) network, continues to experience price fluctuations like many other altcoins in the market. Meanwhile, ARB, the ecosystem's native token, shows resilience, rising over 3% on the day to exchange hands at around $0.33 at the time of writing despite the potential impact of a massive token unlock on Monday.

Bitcoin Price Forecast: BTC recovers above $107,000, yet Israel-Iran conflict clouds bullish outlook

Bitcoin (BTC) is showing signs of recovery during the European trading session on Monday, climbing above $107,000 after a slight correction last week. Despite the signs of mild recovery in price action, the market sentiment remains cautious as the Israel-Iran conflict enters its fourth day after fresh strikes over the weekend. Despite the geopolitical headwinds, institutional interest in Bitcoin remains robust, as Metaplanet added 1,100 BTC to its holdings while spot Bitcoin Exchange Traded Funds (ETFs) recorded a total inflow of $1.37 billion last week.

Bitcoin Spot ETF net inflow chart. Source: Coinglass

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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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