Cryptocurrencies Price Prediction: XRP, BNB & Bitcoin – American Wrap 28 August

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XRP gains 2%, crypto attorney says SEC is unlikely to appeal Ripple ruling

Ripple’s (XRP) lawsuit outcome was favorable for the Securities & Exchange Commission (SEC), according to pro-crypto attorney Bill Morgan. The final ruling in the SEC vs. Ripple lawsuit was well-received by both parties on August 7, 2024.

Here’s why BNB is at risk of declining under $500 and Binance faces criticism on X

Binance, one of the largest crypto exchanges by volume, has faced recent criticism on social media platforms like X. Crypto traders slammed the exchange for allegedly confiscating assets of Palestinian users.

Bitcoin drops below $60,000 as ETFs see outflows and on-chain metrics show negative trend

Bitcoin (BTC) edges up slightly on Wednesday after dropping by 7.5% at the start of the week following the markets’ broad risk-off tone. Nasdaq has filed with the U.S. Securities and Exchange Commission (SEC) to list and trade Nasdaq Bitcoin Index Options (XBTX), a positive development for BTC, but on-chain metrics project a negative outlook as evidenced by a higher percentage of shorts, while US spot Bitcoin ETFs posted outflows on Tuesday.

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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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