Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Ripple (XRP) and Ethereum (ETH) suffered significant losses last week and opened the new trading week in the red. Ripple (XRP) tanked 8.33% on Tuesday prior to FOMC, followed by Ethereum (ETH) with a nearly 4% decline. In the same session, other crypto majors Bitcoin (BTC) and Cardano (ADA), also showed weakness.
The XRP price has since bounced to $0.42 at press time but analysts caution investors to stay away from leading cryptocurrencies at this point. The market’s weakness is expected to linger in the long term, and the biggest recipients of this setback are Bitcoin (BTC) and leading altcoins.
Investors pocket their remaining holdings and put them in The Hideaways (HDWY). The token is projected to become one of the top-performing cryptocurrencies this year.
Ripple (XRP) ‘s Fund Inflows Triple, But its Token Price Remains Weak
The latest on-chain analysis shows Ripple’s increasing investment inflows despite the weakness in the broader crypto market.
$300,000 worth of funds is believed to have been put into XRP last week, growing threefold from the previous week’s $100,000 inflows.
This means interest in Ripple (XRP) remains strong especially now that its management has filed for an appeal to trash the US SEC’s claim to consider it a regular security asset.
However, XRP’s price does not seem happy about the update. The token is still trading lower than its May price range and is 80% down from its all time high, showing that trading XRP remains high risk.
The XRP price is forecasted to fall to a new low at $0.31. If selling pressure continues at this level, XRP might revisit $0.28 – a level not seen since June.
All the Hype Gone After the Ethereum (ETH)’s Merge
Ethereum (ETH) is another token that’s been leading the market losers lately. With the Ethereum Merge anticipation now gone, it’s time for a timely correction.
After the FOMC meeting, ETH crashed as low as $1,220. The token shed over 20% off its value last week and 14% in 30 days.
After falling from the critical support at $1,400, analysts’ forecast on the coin turned sour. Experts predict prices declining to the $1,000.00 zone as selling pressure continues despite today’s minor relief bounce.
Ethereum’s RSI had fallen to 35.0 from this month’s peak at 60.0. It is nearing the oversold danger zone, which, if hit, could pose a greater risk to the coin.
Forget About Ripple (XRP) and Ethereum (ETH) Invest In The Hideaways (HDWY)
The ongoing weakness of Ripple (XRP), Ethereum (ETH) and Terra (LUNA) means one thing: it is time to explore new coins with colossal potential – and our analysts predict up to 10,000% potential here.
The real estate crypto project The Hideaways (HDWY) is changing the traditional real estate game with:
Ability to own a fraction of a property and avoid deposit, legal and financial fees.
Gain 2 sources of passive income through capital appreciation and rental monthly income.
Invest from anywhere in the world, regardless of nationality, you can buy a fraction of a property in any country The Hideaways invests in.
For as low as $100, investors can avail of its non-fungible tokens backed by real-world assets.
Its native token HDWY is selling at $0.02 – a 100% increase since first mentioned. Still, we will not be surprised if this 10x’s before the end of its presale period due to the amount of support it’s been getting lately.
Check them out:
This article originally appeared on https://cryptonews.com/news/ripple-xrp-ethereum-relief-bounce-after-fomc-crypto-market-crash.htm