Cryptocurrencies Price Prediction: Bitcoin, Ripple, & Stellar – Asian Wrap 24 Dec


Around 600 BTC were moved from an Mt.Gox wallet raising fears of 150,000 Bitcoin dump

According to Whale Alert on Twitter, an Mt.Gox cold wallet just sent 600 BTC to another wallet. Although this particular transaction is not that big, it has raised concerns that Mt.Gox might be distributing the 150,000 BTC left already.

In the past 24 hours, Bitcoin has dropped from a high of $24,100 to a low of $22,600. However, this movement is attributed to XRP which lost more than 50% of its value in the past 48 hours, dragging the market with it. 

Ripple Price Analysis: XRP pulls back from 200-day SMA, multi-day-old support lines in focus

XRP/USD eases from the intraday top near 0.3058 to 0.2730 during early Thursday. In doing so, the Ripple pair fails to keep the bounce off key support lines while taking a U-turn from 200-day SMA.

The crypto major dropped to the lowest since late July the previous day amid fundamental concerns relating to delisting of the Ripple from Hong Kong’s exchange.

While fundamentals keep the bears hopeful, not to forget the pair’s inability to cross 200-day SMA, oversold RSI favors further consolidation of losses.

Stellar price loses 50% of its value as concerns about the potential lawsuit from SEC increase

In the past 48 hours, the price of XRP plummeted down to $0.21 as the SEC announced it would sue Ripple. Although most of the market didn’t flinch at first, some cryptocurrencies like XLM got hit quite hard, losing 30% of its value within 24 hours.

Ripple investors have been worried about the SEC for years now. The debate on whether XRP should be considered a security or not continues. Similarly, some XLM holders are also worried that the digital asset might be considered one, now that Ripple has been sued by the SEC.

xlm price

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”

Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”

Lukas Enzersdorfer-Konrad is the deputy CEO at Bitpanda, a broker based in Europe with more than five million users. At the European Blockchain Convention held in Barcelona, the executive shared with FXStreet his views on the current state of the crypto industry and its regulation.

More Cryptocurrencies News
Bitcoin still consolidates despite positive spot ETFs demand

Bitcoin still consolidates despite positive spot ETFs demand

Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.

More Bitcoin News
Why is ONDO’s price outlook bullish?

Why is ONDO’s price outlook bullish?

DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.

More Cryptocurrencies News
Maker price eyes a rally on technicals and on-chain metrics

Maker price eyes a rally on technicals and on-chain metrics

Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.

More Cryptocurrencies News
Bitcoin: Fed-led rally could have legs towards $65,000

Bitcoin: Fed-led rally could have legs towards $65,000

Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.

Read full analysis
Five best Forex brokers in 2024

Five best Forex brokers in 2024

VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals. 

Read More

BTC

ETH

XRP