Cryptocurrencies price prediction: XRP, Binance & Cryptos – American Wrap 17 December
Binance weighs US subsidiary comeback, with potential recapitalization on the table
Binance is exploring ways to return to the United States (US) market through its subsidiary, Binance.US, according to a Bloomberg report. The enthusiasm follows Binance co-founder Changpeng Zhao’s (CZ) pardoning by US President Donald Trump in October.
Ripple Price Forecast: XRP losses deepen despite signs of growing institutional and whale interest
Ripple (XRP) is holding above $1.90, a short-term support, as headwinds intensify in the broader crypto market on Wednesday. Low retail interest and bearish technical signals continue to overwhelm mild inflows into XRP spot Exchange Trade Funds (ETFs), keeping recovery a pipe dream.
The crypto rebound fades with a 40% drop possible
The crypto market capitalisation has changed little over the past 24 hours to $2.96T, remaining close to its late November lows. In the short term, the situation suggests that the rebound has run its course, and we should prepare for a new downward momentum, similar to what was observed in early October. If it falls below $2.75T, it will open a direct path to the $1.8T area, according to the Fibonacci extension pattern. Very close by, in the $1.8T–$1.9T area, is the area of local lows for 2024, which reinforces its importance.
Author
FXStreet Team
FXStreet
