Top Ripple (XRP) Price Predictions, Shiba Inu (SHIB) Developments and More: Bit Summary September 9

TL;DR

XRP is down 10% in two weeks, but analysts remain bullish on a potential bull run. SHIB has fallen 12% over the same period, with token burns underway to reduce supply and increase its value. BTC is also in the red, with possible rallies tied to upcoming economic events. Where is XRP headed?

Ripple’s XRP has taken a serious tumble of late, echoing the broader cryptocurrency market slump. Its price is currently around $0.53, down 10% on a two-week scale.

XRP Price, Source: CoinGecko

Despite the negative trend, many analysts remain optimistic that a revival is knocking on the door. One X user argued that XRP is a “sleeping giant” that is preparing for a bull run. The crypto enthusiast claimed that the asset was in the same build-up stage seen in 2013 and 2018, which was then followed by a rally.

Crypto Bitlord, an analyst with almost 350,000 followers on X, was also bullish and called the token undervalued. “This reminds me of when it was 0.04 cents before its $3.00 run, all of these changes are designed to make our coins $27.00 realistic,” they said.

For its part, Mando CT predicted the formation of a “clear bullish divergence”. The analyst, known as a big supporter of Bitcoin (BTC), vowed to accumulate as many XRP tokens as possible. Those who want to explore additional price forecasts can check out our detailed article here.

What’s new around SHIB?

The price of the popular meme coin has also been negatively affected by the recent market correction. SHIB is currently trading at about $0.00001319, representing a 12% decrease on a 14-day scale.

SHIB Price, Source: CoinGecko

One factor that could positively affect the valuation is the advancement of the Shiba Inu cremation program. A few days ago, the community-driven LTD TOKEN project destroyed 250 million SHIB.

The USD equivalent of storage may be negligible, but continued efforts in this field may benefit the price of the self-proclaimed Dogecoin killer. After all, the burn program leaves fewer tokens in circulation, which, combined with unabated demand, should increase value.

Remember that during August more than 680 million SHIB tokens were sent to a null address. The amount represents a 79% increase compared to the deposit burned in July.

How is BTC?

The price of the main cryptocurrency has fallen by 13% in the past two weeks, currently trading around $55,000 (according to data from CoinGecko).

BTC Price, Source: CoinGecko

However, there are numerous upcoming events that could trigger a major rally in the near future. One factor (probably the most important) is the outcome of the FOMC meeting scheduled for September 18th.

The expectation is that the US Federal Reserve will finally end its aggressive anti-inflationary policy and lower interest rates. This move will make borrowing money cheaper, which may increase investor interest in risk assets such as BTC.

August CPI inflation data, due on September 11, could also lead to more volatility. Those curious to see what other key events may play a role in BTC market dynamics can check out our article here.

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