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Cryptocurrencies Price Prediction: Ethereum, XRP & Crypto – American Wrap 05 August

Ethereum buyers looking to stage recovery after suffering major hit from ETH's sharp decline

Ethereum (ETH) is down 11% on Monday after taking heavy losses from the general crypto market crash. While the decline heavily hit long traders, they look set to stage a comeback following increasing exchange outflows.

Ripple (XRP) shared several key updates in its Q2 2024 report. The bullish updates in the report have failed to catalyze gains in XRP since the altcoin was hit by a market-wide crypto correction that pushed it under psychological support at $0.50. 

XRP hovers around $0.50 at the time of writing, down nearly 7% on Monday. 

Crypto ETFs suffer $528 million outflows as digital asset losses increase

Crypto ETFs weren't spared from the bearish pressure facing the capital markets after experiencing $528 million in net outflows last week, according to CoinShares digital asset weekly report. Last week's outflows ended their four-week streak of net inflows.
 

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