Cryptocurrencies Price Prediction: Ethereum, Ethena & Ripple — Asian Wrap 08 August

Ethereum eyes a rally as on-chain data show bullish signs

Ethereum (ETH) price retested its weekly support on Monday and, by Thursday, had risen by 4.50% to $2,454. Lookonchain data shows that Ethereum Spot ETFs saw inflows of 44,447 ETH, valued at $110.1 million, on Wednesday, while Santiment’s data highlights increased activity in dormant wallets and recent capitulation events, indicating a potential upcoming rally.

Ethena launches USDe on Solana following app integrations across its ecosystem

Ethena (ENA) launched its dollar-denominated stablecoin USDe on the Solana network on Wednesday, allowing users to access it while transacting across applications in the SOL ecosystem. Meanwhile, ENA and SOL are down 6% and 1.3%, respectively, following the announcement. 

Ripple traders shed XRP holdings at nearly $40 million losses, XRP holds steady above $0.50

Ripple (XRP) made a comeback above key support at $0.50 after the recent correction in the crypto market. On-chain data shows traders losing interest in the altcoin after a massive sell-off event on August 5.