Crypto Markets on Edge: Will the Fed’s Next Move Jolt Bitcoin, Ethereum, and XRP? 💥📉📈
As investors eye the Fed’s next decision, top cryptos are showing signs of tension — and potential opportunity.
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🔶 Bitcoin ($BTC): Trading in Tight Range — Breakout Coming?
Bitcoin has been consolidating between $116,000 and $120,000 for the past two weeks, reflecting uncertainty in the market. After peaking at $123,218 on July 14, BTC is now hovering around $118,000.
A daily close above $120,000 could signal a return to its all-time high.
But a break below $116,000 risks a drop toward the 50-day EMA at $112,735.
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🔷 Ethereum ($ETH): Holding Strong at Key Support
Ethereum surged 8% on July 24, reclaiming its $3,730 support level. After touching a YTD high of $3,940, ETH dipped slightly but held the line.
If $3,730 holds, ETH could aim for the $4,000 psychological barrier.
A close below $3,730 might open the door to a pullback near $3,500.
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🔸 Ripple ($XRP): $2.99 is the Line in the Sand
XRP plunged 11% after falling below $3.40, but bounced 3.43% after retesting its 61.8% Fibonacci retracement at $2.99. It’s currently trading near $3.13.
If $2.99 support holds, XRP could rally back to $3.40.
A break below $2.99 may trigger a fall to the next key level at $2.72.
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📊 Bottom Line:
With Bitcoin consolidating, Ethereum defending key support, and XRP teetering on a major Fibonacci level, the Fed's upcoming policy decision could be the catalyst that shakes the crypto market into motion. Traders: stay sharp.
