Bitcoin Falls Below $100K, XRP ETF Approval Looms

Bitcoin plunged below $100,000 for the first time since June 22, marking a correction after reaching a record peak earlier this month. The price fell to $99,941 on the OKX exchange, and betting platform Polymarket now indicates a 51% chance of Bitcoin reaching $90,000 this year.

Franklin Templeton has updated its filing for a proposed XRP exchange-traded fund (ETF), following similar moves by Canary Capital and Bitwise. The update includes shortened Section 8(a) language, signaling the Securities and Exchange Commission (SEC) is preparing to approve the registration. Franklin Templeton manages $1.5 trillion in assets.

Ripple Labs recently offered to repurchase $1 billion worth of shares at a $40 billion valuation, but participation in the buyback was reportedly low, suggesting continued confidence in the company’s long-term potential following its victory over the SEC and recent acquisitions.

Shiba Inu is experiencing a significant sell-off, with roughly 1 billion SHIB being sold on exchanges, pushing the price below $0.000010. This increased volume raises concerns about the token’s near-term prospects.

Analysts warn that Dogecoin may be entering a prolonged bearish phase. The token’s price setup suggests a potential correction, possibly dropping below $0.10 by the end of 2025.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.