Bitcoin, Solana and Ripple – European Wrap 14 March

Bitcoin (BTC) price has recovered the losses it experienced by the end of last week. The sell-off was caused mainly due to failing banks in the United States which in turn triggered a depeg in major US-based stablecoins. However, by the end of the week, there were assurances that the Federal Reserve would make affected investors whole, which instilled confidence and catalyzed this recovery rally.

Solana price (SOL) has been trading with a bullish bias since March 10 as investors took advantage of the dip to buy SOL at a discount. The token’s price action is defined by higher highs and higher lows, which climaxed as new hope entered the market after days of crises involving Silvergate Capital, Signature, Silicon Valley Bank (SVB), and Circle’s USDC stablecoin.

Ripple (XRP) price action is sliding lower, already 1% in the red on Tuesday, and bulls are unable to halt the current fade from sliding below a pivotal support level. On Monday, FXStreet warned that any gains or recovery could be very short-lived as markets underwent a seismic shift with the bond market leading the way. Markets have changed their belief in just a few trading hours from rate hikes and pivotal levels to no more hikes and possibly even cuts from the Federal Reserve in the coming months as traders fret that the current crisis might be a throwback to 2008.