Cryptocurrencies Price Prediction: Bitcoin, Ripple & PEPE – European Wrap 4 March

Bitcoin NodeMonkes NFT collection sees massive spike in demand by whales

Bitcoin (BTC) has seen a resurgence in the non-fungible token narrative with NodeMonkes, a collection of pixelated NFTs on the BTC blockchain. The popularity of the 10,000 NFT collection is driven by interest from Bitcoin whales, whose buying interest is supporting the rapid increase of the project’s market capitalization. 

NodeMonkes is driving a Crypto Punk-like frenzy as the Bitcoin Ordinals trading market sees a massive spike in transactions, users and trade volume. The interest from Bitcoin’s large wallet investors has pushed pixelated Ordinals collection NodeMonkes to the top three NFTs, by market capitalization.

XRP price eyes $0.70 target, attorney states Ripple’s influence on the altcoin is on a decline

XRP price climbed to a new 2024 high of $0.65 on Saturday and suffered a minor pullback to $0.63, early on Monday. The altcoin has sustained above the psychologically important level of $0.60 amidst developments in the SEC v. Ripple lawsuit. 

Attorney Bill Morgan, a Ripple proponent, believes that it is likely that Ripple’s influence on XRP price declines as its store of the altcoin reduces. Further, the escrow set up by the payment remittance firm could make XRP supply more predictable, likely reducing negative impact on XRP price. 

PEPE price rallies 26% on Monday, likely driven by whale accumulation

PEPE, one of the largest meme coins in the crypto ecosystem, observed double-digit gains on Monday. The meme coin rallied to a high of $0.00000755 hours ago and the frog-themed cryptocurrency is being accumulated by whales.

Data from crypto intelligence tracker Lookonchain reveals that large wallet addresses have recently accumulated PEPE in large volumes. A whale withdrew 184.4 billion PEPE tokens worth $1.02 million at the time, from Binance, early on Monday. The entity is sitting on an unrealized gain of $155,000.