Cryptocurrencies Price Prediction: Binance, XRP & Bitcoin – European Wrap 10 July – FXStreet
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FXStreet
Peter Brandt, a commodity and foreign exchange trader, compared the discount on Bitcoin and Ethereum prices on Binance to the “popping of a bubble.” Brandt criticized Binance and Executive Changpeng Zhao (CZ), labeling the exchange the “scam of the decade.”
XRP is in the spotlight once again as the community awaits a verdict in the SEC vs. Ripple case. The token noted a spike in its social dominance, an on-chain metric used to measure the mentions of an asset across social media platforms like Twitter.
Crypto market capitalisation has fallen 3% over the past seven days to $1.17 trillion. The Fear and Greed Index is at 56 (greed), having corrected from 62 a week earlier. Capitalisation has stabilised at $1.20 trillion in the first half of the week and at 1.18 in the second half. Capitalisation falls early on Monday, following the downtrend in global equity indices.
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BTC price continues to move sideways in a tight range with no resolution. However, a closer look at the price action suggests that a steep correction could be on its way. If bears are successful, Ethereum and Ripple could be in trouble as well.
While reeling from the FTX exchange implosion and the Three Arrows Capital crisis, the Monetary Authority of Singapore had successfully maintained a neutral stance on crypto. However, this has likely changed with Temasek’s announcement that the sovereign wealth fund is no longer keen on investing in crypto exchanges.
XRP is in the spotlight once again as the community awaits a verdict in the SEC vs. Ripple case. The token noted a spike in its social dominance, an on-chain metric used to measure the mentions of an asset across social media platforms like Twitter. Typically, this is considered a sign of a recovery, which would mean thatand XRP price is likely to wipe out its losses from June 2023.
Stablecoins with the largest market capitalization in the crypto ecosystem, USD Tether (USDT) and USD Coin (USDC) signal upcoming volatility in Bitcoin and altcoin prices through on-chain metrics.
Bitcoin (BTC) price shows multiple sell signals on the daily chart, hinting at a short-term correction. Although the longer-term outlook remains bullish, the hype generated by multiple US-based companies filing for Bitcoin ETF seems to be waning.
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