As of February 8, 2025, Bitcoin (BTC) is trading at approximately $96,095, reflecting a 1.7% decrease from the previous close, with an intraday high of $100,186 and a low of $95,670. XRP is priced at around $2.41, with an intraday high of $2.53 and a low of $2.35.
Bitcoin (BTC) Analysis:
Recent data indicates that Bitcoin experienced a 2.3% increase, reaching $100,097, following a jobs report that revealed a sharper-than-expected hiring slowdown. This uptick comes after declines linked to policy uncertainties, particularly concerning tariffs.
Technical analysis suggests that Bitcoin faces resistance around the $100,000 mark, with support identified near $95,000. A decisive move above $100,000 could pave the way for further gains, while a drop below $95,000 might signal additional downward pressure.
XRP Analysis:
XRP has demonstrated notable volatility, with a recent 6.7% increase to $2.50, though it remains below its mid-January high of $3.40.
Technical indicators show that XRP is encountering selling pressure, struggling to maintain levels above critical support. The formation of lower highs near $2.71 and bearish candles around $2.50 suggest potential further declines if support levels are breached.
Market Outlook:
Both #Bitcoin and #XRP are influenced by macroeconomic factors, including employment data and policy decisions. Investors should monitor these developments, as they can significantly impact cryptocurrency valuations.
In summary, while Bitcoin is testing key resistance levels, XRP faces challenges in sustaining its upward momentum. Market participants are advised to stay vigilant and consider both technical indicators and broader economic factors when making investment decisions.
