Cryptocurrency Price Forecast: Ethereum, XRP, and Bitcoin Update on August 19
XRP Ledger transactions have significantly decreased this year, falling to nearly a sixth of their previous value. On Monday, Ripple (XRP) is trading at $0.5833, showing gains and recovering from the cryptocurrency market crash earlier in August. The recent Ripple stablecoin announcement, the outcome of the Securities & Exchange Commission (SEC) vs. Ripple lawsuit, and research reports from SBI-owned HashHub are driving forces for the altcoin this week.
Ethereum is experiencing a decline of over 3% on Monday, following weak flows across ETH ETFs and hitting record lows in gas fees last week. This downward trend coincides with Ethereum’s attempt to replicate a historical price movement observed in the past two years.
Bitcoin is currently trading around $58,000 on Monday, with a 0.7% decline for the day, continuing the consolidation phase between $57,000 and $62,000 witnessed over the last ten days. Despite struggling to surpass crucial resistance levels and displaying weak momentum indicators from a technical standpoint, Bitcoin’s bearish outlook remains dominant. However, there are indications of reduced selling pressure from miners, which is offering some support to the primary cryptocurrency asset.
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