BTC price After Powell’s statements, it exceeded $ 62,000 and is now back where it started. Rapid ups and downs are not surprising in crypto, and interest rate cuts are now starting. This suggests that the direction should be upward despite the fluctuations in the medium term. The chart for XRP Coin is even more exciting.
XRP Coin Bullish Target
It fell to 760 satoshis against BTC in June. XRP Coin jumped by nearly 50 percent. Developments related to the case and the anniversary of the summary judgment in July were effective here. A structure similar to the movement that triggered the 500 percent rally in January and May 2021 is forming. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
We saw a failed test of EMA50 in the XRP/BTC pair during the big rally in 2021. This also happened in August 2024. Investors support the rejection as they see the key area as an area where sales will intensify, and this decline could actually be a sign of a bigger increase if the movement in 2021 repeats.
If the XRP Coin price can break through the strong resistance, then the movement towards EMA200 (1890 satoshis) may accelerate.
XRP Coin Fractal
Second largest XRP Coin The bullish signal is related to the chart following the halving. Bitcoin market dominance fell after reaching 70% in the second halving in July 2016. After that, a bigger rise began in altcoins. As of August 2024, the SEC and Ripple lawsuit was concluded and a reasonable penalty was imposed for Ripple selling XRP to institutional investors.
After the $125 million fine, XRP/BTC increased by 15 percent and the potential for BTCD to see a peak after the halving event is increasing. If the same scenario were to happen again, this would mean a rapid rise for both XRP and altcoins in general. future.
The weakest performing major altcoin among major altcoins since early 2024 XRP There may also be more upside room for XRP Coin due to the relatively poor performance.
Finally, the Fed’s reductions starting on September 18 will lift risk markets. Markets expect a 100bp reduction this year. BTC is stalling at $61,400 at the time of writing.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
