Ethereum, Ripple, and Meme Coins Price Forecast in Asian Markets on July 16
Ethereum’s price surged more than 7% on Monday after reports from Bloomberg analysts suggested that the Securities & Exchange Commission (SEC) might approve spot ETH ETFs to launch next Tuesday. This news has led to increased investments in global Ethereum products, indicating that traditional investors are gearing up for a potential surge in Ethereum’s value ahead of the ETF launch.
Ripple (XRP) experienced significant gains over the weekend, marking its highest weekly increase in 2024. This surge came as XRP enthusiasts celebrated the one-year anniversary of Judge Torres’ ruling in the SEC vs. Ripple lawsuit. XRP reached a peak of $0.5661 on Saturday, July 13.
Meme coins have taken the lead in the cryptocurrency market once again, riding the wave of Bitcoin’s recovery. Notable meme coins like PEPE, WIF, FLOKI, and MOG have seen their daily performance soar by over 20% on Monday, showcasing their resilience and popularity among investors.
CoinShares’ recent report revealed that crypto ETFs saw a substantial influx of over $1.44 billion last week, with many traditional investors viewing the market downturn as an opportunity to buy the dip. This indicates a growing confidence among institutional investors in the long-term potential of cryptocurrencies despite short-term fluctuations.
Overall, the cryptocurrency market continues to attract attention and investment from various quarters, with developments like the potential launch of Ethereum ETFs, Ripple’s impressive gains, and the resilience of meme coins contributing to the sector’s ongoing momentum and appeal to both traditional and crypto-savvy investors.
