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Cryptocurrencies Price Prediction: XRP, Dogecoin & Bitcoin – American Wrap 26 August

Cryptocurrencies Price Prediction: XRP, Dogecoin & Bitcoin – American Wrap 26 August
FXStreet TeamFXStreet TeamFXStreet

XRP loses key support as Ripple whales dump 140 million tokens in a week

Ripple (XRP) posts a second consecutive session of losses on Monday, dipping under the key psychological support of $0.60, as large-wallet investors seem to have engaged in a selling spree, ushering a correction in the price of XRP Ledger’s native token.

XRP

Dogecoin, Shiba Inu lose value, new meme coins DOGS, SUNDOG, CAT rally up to 30%

Dogecoin (DOGE) and Shiba Inu (SHIB), the two largest meme coins in the crypto ecosystem, have erased over 3% of their value on Monday. Meme coins SunDog (SUNDOG) and Simon’s Cat (CAT), on the other hand, rallied over 30% in the last 24 hours per CoinGecko data. 

MEME

Bitcoin price outlook improves amid bullish on-chain metrics, ETF inflows

Bitcoin's (BTC) price clings to gains on Monday after rising 10% last week and closing above $64,000. BTC price rallied on Friday, driven by Federal Reserve (Fed) Chairman Jerome Powell’s confirmation that an interest-rate cut in the US is coming in September. This positive market sentiment led US spot Bitcoin ETFs to register net inflows of more than $500 million last week, while on-chain data such as the decreasing Miners Position Index and positive funding rates suggest a bullish outlook.

Bitcoin Spot ETF Net Inflow chart

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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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