Ripple (XRP) Price Recovery, Bitcoin Volatility Amid Trump Assassination Attempt, SHIB Price Outlook: Bit Summary September 16

TL;DR

XRP gained 7.5% last week, boosted by the launch of Grayscale’s Ripple Trust and rumors of a new Robinhood listing. BTC fell below $60,000 after briefly topping $60,500, hit by negative news in the broader market such as Donald Trump’s alleged assassination attempt. SHIB rose 2% for the week amid a high level of fear, uncertainty and doubt (FUD) in the ecosystem. XRP performance in the last hour

Ripple’s XRP led the gains last week, following Grayscale’s decision to launch a dedicated Ripple Trust. The product, which allows users to have direct exposure to the asset without the need to buy, store or maintain it, was launched on 12 September.

The price of XRP recorded a substantial green candle minutes after the announcement, rising to $0.57. Its uptrend continued in the following days, reaching almost $0.60 on September 15. Another factor driving the rally could be increased rumors that Robinhood has re-listed XRP on its platform. The company’s website shows that Ripple’s native token is indeed among the supported cryptocurrencies.

Over the past few hours, XRP has lost some ground and is currently trading around $0.57 (according to data from CoinGecko). However, it remains in green territory on a weekly basis, up 7.5% in this period. Those who want to explore some interesting predictions from popular analysts can check out our article here.

XRP Price, Source: CoinGecko BTC lost the $60,000 level

The main cryptocurrency also saw a significant increase last week, with its valuation jumping above $60,500 over the weekend. The rally was interrupted in the last hours after reports of an assassination attempt on Donald Trump.

As reported by CryptoPotato, the FBI has opened an investigation into the incident in which numerous shots were fired at the golf club while the presidential candidate was playing.

The cryptocurrency sector reacted negatively to the news and its global market capitalization has dropped 4% on a daily basis, currently pegged at approximately $2.12 trillion. BTC fell well below $60,000, settling at $58,400 at the time of writing.

It will be interesting to see if the downtrend in the asset will intensify in the coming days or recover after the FOMC meeting (scheduled for September 18). Several industry participants expect the US Federal Reserve to cut interest rates, making it easier to borrow money and potentially increasing investor interest in risky assets like cryptocurrencies.

What about SHIB?

The second largest meme coin saw a slight increase in the last seven days, increasing its value by 2%. Not long ago, crypto analytics platform Santiment estimated that there was a “tremendous” amount of FUD within the Shiba Inu ecosystem.

Fear, Uncertainty, and Doubt (FUD) describes the spread of negative or false information, rumors, or emotions that create panic among investors, and that can lead to selling pressure in the market. This increase is often seen as a signal of impending major price fluctuations.

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