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Cryptocurrencies Price Prediction: XRP, Bitcoin & Cryptos – American Wrap 06 February

Cryptocurrencies Price Prediction: XRP, Bitcoin & Cryptos – American Wrap 06 February
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XRP could rally 18% amidst changes at the SEC and bullish on-chain metrics

The Securities & Exchange Commission (SEC) has scaled back its unit of lawyers and staff members dedicated to crypto enforcement action. Ripple’s Chief Technology Officer (CTO) Stuart Alderoty shared his optimism on the resolution of the SEC vs. Ripple lawsuit. 

XRP

Bitcoin Price Forecast: BTC recovers above $98,000 as Eric Trump encourages WLFI to add BTC

Bitcoin (BTC) price recovers slightly, trading above $98,000 at the time of writing on Thursday after losing nearly 5% in the last two days. Eric Trump encouraged the addition of BTC to their family-backed crypto platform World Liberty Financial (WLFI) portfolio, which may be supporting Bitcoin’s recovery. Moreover, Santiment’s data shows that Bitcoin whales have been stacking up more BTC during the recent correction while retail traders are getting liquidated, hinting at recovery ahead.

BTC holders chart. Source: Santiment

Bitcoin strengthens as crypto falls

The cryptocurrency market is in no hurry to recover. Trading near $3.3 trillion in capitalisation, the crypto market is consolidating at a lower level. Before that, there was consolidation near $3.5 trillion, and a fortnight ago, it was just below $3.8 trillion.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Bitcoin Weekly Forecast: Binance security breach and hawkish Fed push BTC lower

Bitcoin Weekly Forecast: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.
Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.
Bitcoin, Ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets

Bitcoin, Ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets

Crypto traders betting on higher prices had about $1.29 billion in positions forcibly closed over the past 24 hours, as the selloff following Binance’s security breach pushed bitcoin, ether and smaller tokens lower. Total liquidations reached $1.53 billion by Friday morning in Asia, according to CoinGlass. Long positions, bets that prices would rise, accounted for 83.8% of the total.
Crypto Today: Bitcoin, Ethereum, XRP sell-off cools after Binance security breach

Crypto Today: Bitcoin, Ethereum, XRP sell-off cools after Binance security breach

Cryptocurrency prices are on edge on Friday, with Bitcoin (BTC) delicately holding onto a short-term $78,000 support, Ethereum (ETH) edging lower near $2,200 and Ripple (XRP) attempting a recovery above support established at $1.20. The cooldown follows Binance, the largest crypto exchange, after it reported a hack that impacted about $6.3 billion.
Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.