The leading cryptocurrency approached the $117,000 threshold after a significant meeting at the White House concerning Russia. However, this level was not surpassed, nor is it expected to be. Influential factors this week include the anticipated Fed minutes and developments from Jackson Hole involving Powell. The current situation for XRP Coin and the conclusion of BTC’s downturn remain uncertain.
XRP Coin’s Potential for Growth
In the early hours today, BTC experienced a price increase, although investors exhibited caution due to major events expected later this week. Currently, BTC holds at $115,000, reflecting a similar sentiment across most altcoins. Yet, an analyst known as TraderLeevis believes that a long opportunity might be on the horizon for XRP Coin.
“For a short-term long, I believe the opening level of the last dip test is the most suitable area. Pricing at the highest volume level of the value area, I’m waiting for a long in the marked region,” the analyst stated.
With the ETF news expected in October and concluded litigation, Ripple
$3 has taken essential steps to expand its payment services. Although recent positive news hasn’t been fully priced in, no immediate developments are anticipated to drive prices upward. Instead, a recovery in general market sentiment might eventually lead to delayed pricing. However, such recovery doesn’t seem likely this week.
Has Bitcoin’s Decline Concluded?
Discussing Bitcoin
$115,478, the analyst shared that the outlook is currently unfavorable. After exploring a new dip, they suggest a potential long attempt, pointing to the deepening potential of sales at $114,000 and emphasizing the strength of sellers.
Phoenix noted a bullish divergence on the four-hour chart, although after the U.S. market opened, the situation turned against bulls. AskCryptoWealth commented, “Some say this resembles 2021 and that a bear market has commenced, but altcoins are set to rise.”
If the analysis holds true, massive surges in altcoins may not occur soon, and BTC’s rally might enter a consolidation phase. Achieving days when macroeconomic issues have less impact on cryptocurrencies is essential, especially as non-crypto events hindered larger peak potentials in August.
