BITCOIN (BTC)
Bitcoin‘s price is stuck around $29,000. It hasn’t changed much in the last 24 hours. Earlier today, Bitcoin tried to push above $29,500 but sellers quickly pushed the price back down. Sellers are stopping Bitcoin from making big moves up or down.
Lately, Bitcoin has been unusually quiet and stable compared to normal. Its volatility has been lower than stocks, bonds, and even gold.
Bitcoin being so calm for an extended time is rare. Usually after long periods of low volatility there are big price jumps up or down. Analysts think this quiet period could mean a big move is coming soon. The next few weeks might see Bitcoin become volatile again.
Ripple (XRP)
Despite a recent legal win, XRP has trended down over the past week, losing 10% and dropping 25% from its July high of $0.92. Traders are taking profits after strong previous gains.
Experts predict the downtrend could continue to around $0.55. However, the legal victory and exchanges relisting XRP are bullish signals. Bitstamp unveiled a new 2% XRP lending service too.
The increased availability of XRP to US users could spark a recovery. So while recent price action is negative, fundamentals may support a turnaround.
SHIB
SHIB, the meme crypto, has been one of the top gaining large-caps recently, increasing around 5% in price. This positive momentum seems driven by news of Binance adding SHIB as a collateral asset.
Users can now use SHIB holdings as collateral for crypto loans on Binance. This new utility unlocks an extra use case for SHIB.
The additional Binance functionality appears to be fueling interest in SHIB, helping drive the 5% price boost amid a lackluster market. It reflects continued real-world adoption for the previously obscure meme coin.
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