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$XRP XRP's current price on Binance is $3.04, with a 7.64% increase in the last 24 hours. The market cap stands at $170.20 billion, indicating a relatively stable position in the cryptocurrency market. However, top Binance traders have been cutting their bullish exposure, with the long-to-short ratio dropping from 3.57 to 2.87 in less than 24 hours. *Key Factors Influencing XRP's Price:* - *Falling Wedge Pattern*: XRP's chart displays a falling wedge pattern, which is a bullish technical formation that could signal a potential breakout to the upside, targeting $5.20. - *Whale Activity*: Large wallets have sold about 460 million XRP tokens in the past week, while smaller wallets accumulated 130 million tokens, indicating mixed sentiment across investor groups. - *Futures Open Interest*: Futures open interest fell from $10.9 billion to $7.5 billion, and the broader long/short ratio dipped below 1, reflecting caution among traders ¹ ². *Market Outlook:* The Relative Strength Index (RSI) stands at 40.54, close to oversold conditions, which could lead to a potential upside recovery if #Xrp🔥🔥 $XRP
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Markets are adjusting their expectations for a potential interest rate cut by the Federal Reserve in September, ahead of Fed Chair Jerome Powell's significant Jackson Hole speech. The likelihood of a 25-basis-point rate cut is currently estimated at 71.5% by Invest, although this figure has dropped from previous highs due to rising unemployment claims. However, other analysts like Ed Yardeni from Seeking Alpha believe the probability is below 50%, driven by ongoing inflation pressures and economic resilience. Reuters suggests an even lower probability of 25%, citing robust manufacturing data that counters earlier labor market weakness signals. *Key Factors Influencing the Shift:* - *Unemployment Claims*: A recent surge in unemployment claims has shaken market confidence, leading traders to reassess their expectations for rate cuts. - *Inflation Pressures*: Persistent inflation and strong economic output are making policymakers cautious, with Yardeni believing the Fed might maintain current rates in September. - *Manufacturing Performance*: Solid PMI results indicate the economy might be stronger than expected, reducing the urgency for policy easing. *Market Outlook:* With the probability of a rate cut ranging between 25% and 70%, the focus is on Powell's upcoming speech and key data releases that could either boost or stall rate-cut momentum. Crypto traders, BTC holders, and DeFi stakeholders should closely watch these developments for potential market impacts ¹.
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Woho🥳🥳🥳 #soontothemoon Good evening and very nice evening ever ❤️ $SOON
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