The cryptocurrency market could have quite a few catalysts this week, together with the Federal Reserve and Financial institution of England rate of interest selections, the continued Iran and Israel disaster, and potential Bitcoin and Ethereum ETF inflows.
This text explores the highest three cryptocurrencies to watch this week, together with Solana, Ripple, and Zetachain.
SEC ruling on Franklin Templeton’s XRP ETF looms
Ripple (XRP) worth can be a cryptocurrency to watch this week because the Securities and Change Fee delivers a ruling on Franklin Templeton ETF proposal on June 17.
The most probably consequence is that the company will postpone the ETF approval because it evaluates different proposals by firms like VanEck, Bitwise, and 21Shares.
Most crypto merchants imagine that the company, below Paul Atkins, will approve these ETFs by the tip of the 12 months. Polymarket odds of this approval have jumped to nearly 90%.
Franklin Templeton’s XRP ETF choice comes because the coin has remained in a consolidation section up to now few weeks. It has fashioned a symmetrical triangle on the each day chart, pointing to an enormous breakout or breakdown within the subsequent few weeks.
One crypto pundit estimated that the coin could have a bullish breakout, which can align with Bitcoin worth rising above the 8-year trendline that we lined here.
$275M token unlock might spark Solana rebound
Solana (SOL) worth has dropped by 21.7% from its highest level in Could, that means that it has moved into a neighborhood bear market. This crash has coincided with the continued sell-off of most of its meme cash.
Solana worth can be within the highlight this week because the community will unlock tokens price over $275 million on Saturday. These tokens characterize about 0.36% of its float.
Nonetheless, technicals level to a Solana worth rebound, because it has fashioned a bullish flag sample on the each day chart. This rebound can be confirmed if the token rises above the higher facet of the descending channel at round $160.
Zetachain token unlock forward
Zetachain (ZETA) worth has been in a downtrend and is hovering at its lowest degree this 12 months. It has plunged by over 80% from its highest level in 2024, partly due to its substantial month-to-month unlocks. These unlocks enhance a token’s provide, which is dangerous, primarily when little demand exists.
ZETA worth can be within the highlight this week because it unlocks tokens price $8.6 million, representing 5% of the float.
The each day chart above exhibits that the ZETA worth has pulled again from a excessive of $0.3120 in Could to $0.20 at present. It failed to transfer beneath that help degree 3 times since March, forming a triple-bottom sample. Due to this fact, Zetachain worth might bounce again this week if it holds the help at $0.20.
