The cryptocurrency market seems to be undergoing another correction, with Bitcoin (BTC) falling below the $60,000 mark, dipping 4.4% in the last 24 hours. The global crypto market cap has fallen 3.8% since yesterday, currently at $2.15 trillion. This correction also impacts Ripple (XRP), Solana (SOL), and PEPE.
The latest dip could be due to fears around a conflict in the Middle East as geopolitical tensions rise. The Federal Reserve’s uncertainty about an interest rate cut may have played a hand in the rise in investor fears. Traders expected an interest rate cut in September, but the Fed has not given official word on whether it will.
Also Read: How Many Cryptocurrency Millionaires Or Billionaires Are There?
The low prices could be a good entry point for new investors and allow others to increase their holdings.
Top 3 Cryptocurrencies to Watch This Week
1. Ripple (XRP)
Ripple finally received a favorable ruling from the High Court for its lawsuit with the SEC. The development could lead to a rise in XRP’s adoption and price over the next few weeks.
XRP is currently down by 4.8% in the daily charts but is up by nearly 20% over the previous week. CoinCodex data suggests the cryptocurrency could surge to $0.74 on Thursday, Aug. 15, 2024. Hitting $0.74 from current price levels would translate to a rally of about 32%.
2. Solana (SOL)
Solana (SOL) has been down 8.1% in the last 24 hours but up 22.7% in the last seven days. SOL has had an incredible run in the previous few years, especially after the collapse of the FTX cryptocurrency exchange.
There is much talk about a possible SOL ETF launch in the US. The asset could witness a massive price spike if an ETF is launched.
3. Pepe (PEPE)
PEPE is among the best-performing cryptocurrencies of the last year. Since its launch in April 2023, the frog-themed memecoin has witnessed multi-digit gains.
It has also quickly claimed the charts and currently occupies the 27th spot among the top projects by market cap.
Also Read: Cryptocurrency: Top 3 Memecoins To Watch During The Dip
Pepe is down 9.2% in the daily charts but could witness a rebound this week. CoinCodex predicts the asset to hit $0.00001 on Aug. 17, 2024.
This news is republished from another source. You can check the original article here
