The post Bitcoin (BTC) Price Retreat, Bullish Ripple (XRP) Predictions, and More: Bits Recap Nov 26 appeared on BitcoinEthereumNews.com.

TL;DR Bitcoin (BTC) hit nearly $100,000 before dropping to $93,000, with corrections potentially linked to profit-taking and market sentiment. Ripple (XRP) soared to $1.60, now at $1.42, with predictions ranging from $1.60 to $30 by 2025. Shiba Inu (SHIB) saw a recent local peak and may rally again if it breaks key resistance. BTC’s Price Swings The primary cryptocurrency has been on a roller-coaster in the past week, with its price skyrocketing to an all-time high of almost $100,000 on November 22 but plunging below $93,000 in the following days. In the past several hours, it dumped even harder and now sits at a multi-day low of $92,500. It is interesting to note that the correction intensified on November 25, shortly after MicroStrategy announced the purchase of a whopping 55,500 BTC for an average price of just under $98,000. The stash equaled approximately $5.4 billion, thus marking the company’s record in its acquiring spree. Massive purchases of that type decrease the circulating supply of the leading digital asset and could lead to a price rally. It was not the case this time, with BTC dropping by 4% since the disclosure. Corrections, though, are an inevitable part of the market cycle. Most recently, CryptoQuant’s analysts outlined some factors possibly contributing to the pullback, including Short-Term Holders (STH) taking profits and rising fear of missing out (FOMO) levels. At the same time, on-chain metrics such as MVRV, NUPL, and Puell Multiple signal that BTC remains “in a bull market with upward potential.” How’s XRP Doing? Ripple’s native token has been among the market’s rockstars in the past few weeks, with its valuation charting a triple-digit rally. Last week, it tapped a three-year high of $1.60, while currently, it is hovering below $1.4. XRP Price, Source: CoinGecko Unsurprisingly, the massive resurgence has been…

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Filed under: News - @ November 26, 2024 9:25 am