Bitcoin Reacts to Trump-Xi Agreement and Fed Rate Cut: Is a Drop to $93,000 Imminent?
Federal Reserve Rate Cut: The Federal Reserve cut interest rates by 25 basis points to a range of 3.75%–4.00%, but the market response was muted as traders had anticipated the decision, reflecting concerns about economic weakness and inflation.
Market Reactions: U.S. equities showed mixed performance, with the S&P 500 flat, the Dow Jones down slightly, and the Nasdaq up. The global crypto market cap fell by 4.2%, with Bitcoin trading below $108,000.
Jerome Powell's Comments: Fed Chair Jerome Powell indicated that another rate cut in December is uncertain, which caused brief market fluctuations and raised concerns about the impact of a potential government shutdown on economic data.
Bitcoin Price Analysis: Bitcoin has broken below $108,000, with weak momentum suggesting it may approach oversold conditions. Key support levels are identified at $102,000–$100,000 and $93,000–$92,000, with a recovery above $112,000 needed to regain short-term momentum.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.518 | 0.818 | 1.156 | 1.455 | 1.793 | 2.093 | 2.431 |
| Fibonacci | 0.818 | 1.061 | 1.212 | 1.455 | 1.699 | 1.849 | 2.093 |
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