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Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Ripple – American Wrap 09 September

Ethereum ETFs record another week of heavy outflows as whales shed their holdings

Ethereum (ETH) is up 2.5% on Monday as the top altcoin attempts to recover from the selling pressure of exchange-traded fund (ETF) investors and top whales.
Ripple (XRP) reserve on one of the largest crypto exchanges, Binance, declined by 167 million in a time frame of five weeks. This is a key development for XRP holders since a decline in the asset’s reserves on exchanges implies there are fewer XRP tokens to sell. Thus lower selling pressure on the altcoin should ensue. 
Bitcoin (BTC) recovered slightly on Monday, extending the weekend’s recovery after prices bounced from key support at $54,000 on Friday. This slight recovery amid the mild increase in the Coinbase Premium Index during the weekend. However, the recovery could be short-lived as on-chain data continues to lean to the downside, as shown by falling daily active addresses and a negative OI-weighted funding Rate.
 

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