Bitcoin (BTC) Price Rise, dogecoin (DOGE) Rise, ripple (XRP) Predictions: Bit Summary
TL;DR
- The price of BTC rose above $71,000 due to optimism regarding the Ethereum ETF approval, resulting in a 6% weekly and 13% monthly increase, but later fell to $69,500.
- DOGE’s value also increased, briefly exceeding $0.17 and reaching a market cap of close to $25 billion. Key metrics increased, with 85% of shareholders making a profit.
- The price of XRP has seen a slight increase with predictions of further gains due to bullish indicators. The outcome of Ripple‘s lawsuit with the SEC could cause significant volatility.
The price of the primary cryptocurrency started the ongoing week around $67,000: the same level was seen over the weekend. But consolidation it ended On May 21, when BTC rose above $71,000.
BTC Price, Source: CoinGecko
Mother turned out to be the catalyst for the rally hopes that resurface He said the US SEC could approve Ethereum ETFs as early as this week.
Over the past few days, BTC’s value has declined slightly and is currently trading at around $69,500 (according to CoinGecko data). This figure represents a 6% increase on a weekly scale and a 13% increase on a monthly basis.
A large number of analysts believe that Bitcoin has not yet experienced a true bull run. Recently X user Alpha Analysis guess The price of the asset may jump as high as Assuming history repeats itself, $138,000 this summer.
DOGE Climbs the Crypto Ladder
Leading meme coin Dogecoin (DOGE) also experienced a significant price increase recently, briefly breaking the $0.17 barrier. Its market cap rose to almost $25 billion before settling at around $24 billion. superior Toncoin (TON) is the ninth largest cryptocurrency.
Key metrics regarding the Dogecoin ecosystem have also witnessed a significant rise. Total daily volume on May 21, with each transaction exceeding $100,000 exceeded 1.5 billion dollars. A few days later, the figure crossed the $2 billion milestone.
as of nowapproximately 85% of all DOGE holders to sit paper profits with whales check 63% of circulating supply.
XRP predictions
Ripple’s XRP is among the digital currencies that have been on the rise recently. in a more modest way than its competitors. Many analysts expect the asset to perform much better in the near futureoutlines impressive predictions.
X user JAVON MARKS requested A bullish trend is on the cards as XRP approaches a “major convergence point” and “RSI Pattern” well “It shows the underlying momentum in prices right now.”
Relative Strength Index (RSI) is a metric used in technical analysis to measure the speed and change of price movements. An RSI above 70 indicates that the cryptocurrency may be overbought and a correction may be necessary. Data demonstrations The rate mainly remains below this level the figure mentioned above It’s currently showing 49 for the ongoing month.
Based on these conditions, the analyst has set a wild target of $15-$20 for the value of XRP. “There are signs of ascension and there can only be time.” on display,” They argued.
One of the important factors that can lead to serious fluctuations in the price of XRP is the possible outcome of XRP. case Between Ripple and the US SEC. For those interested in learning about the details of the case and its potential impact on the asset, feel free to watch our exclusive video below:
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