Bitcoin

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-the-recent-surge-in-bitcoin-and-xrp-coin-prices/" data-wpel-link="internal">Exploring the Recent Surge in Bitcoin and XRP Coin Prices</a> 
While preparing this article, <a href="https://coin-turk.com/piyasaya-guncel-bakis-gunun-one-cikan-kripto-para-birimleri-8-haziran-2023" data-wpel-link="internal">BTC</a> price was above $66,800 and increased roughly a thousand dollars after the US market opened. The below-expectation PMI data indicated an economic slowdown, which positively influenced risk markets. The optimistic sentiment could continue with upcoming quarterly earnings reports. 
<h2 style="text-align: justify" id="why-is-bitcoin-rising">Why Is Bitcoin Rising?</h2> 
<a href="https://en.coin-turk.com/bitcoins-low-supply-on-central-exchanges-and-potential-price-increase/" data-wpel-link="internal">BTC</a> price experienced a $1000 increase within about an hour. We had mentioned that US service and manufacturing PMI data could trigger volatility. While the overly vibrant economic environment puts negative pressure on inflation, the data coming in below expectations signals a slowdown. If Friday’s PCE data also falls below expectations, we might see the macroeconomic pressure start to ease. 
In an optimistic scenario, the Fed might start making more dovish statements, and the market could anticipate the first rate cut as early as the September meeting. Conditions are aligning for the Fed to comfortably reduce rates in anticipation of the post-halving rise. BTC could then climb to $69,000, $71,300, and eventually $73,777. 
A strong bullish signal would be breaking and closing above the twice-tested $67,300 level. Throughout the week, earnings reports from Microsoft and others are expected to also support the stock markets, which could benefit crypto. 
<h2 style="text-align: justify" id="xrp-coin-price-prediction">XRP Coin Price Prediction</h2> 
Technically, the recent rise in <a href="https://en.coin-turk.com/sbi-group-partners-with-ripple-to-provide-xrp-based-remittance-service-in-southeast-asia/" data-wpel-link="internal">XRP</a> is linked to maintaining a multi-year upward trend line. XRP Coin price, finding buyers above the 200-week EMA, is now preparing to retest the descending trend line resistance at $0.596. Closures above $0.556 are necessary for this to happen. Currently, the price is just $0.01 below this region, and if BTC continues to rise, a strong attempt could begin. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-343671 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/xrp-coin-23-nisan-tahmin.png" alt="" width="1201" height="586"> 
Known by the pseudonym Milkybull <a href="https://en.coin-turk.com/apples-wwdc-2023-hint-at-possible-collaboration-with-render-token/" data-wpel-link="internal">Crypto</a>, a cryptocurrency analyst pointed out a fractal on the monthly chart in his latest assessment. According to this, XRP Coin price has been initiating rallies from the rising trend line since 2020. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-343672 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/xrp-coin-fraktal.png" alt="" width="1201" height="677"> 
During the 2014-2017 period, XRP Coin experienced impressive rises similar to today’s scenario. According to the analyst’s prediction, such a scenario could unfold in the coming months. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-the-recent-surge-in-bitcoin-and-xrp-coin-prices/" data-wpel-link="internal">Exploring the Recent Surge in Bitcoin and XRP Coin Prices</a></h5>

Exploring the Recent Surge in Bitcoin and XRP Coin Prices

Table of Contents

COINTURK NEWS

Other articles published on Apr 23, 2024

Exploring Increased Social Interactions for Bitcoin and Chainlink

XRP Price Dropped 10% in 7 days, What Happened?

Blackrock’s Bitcoin ETF Achieves Record Inflows

PayPal Launches Initiative for Sustainable Bitcoin Mining

BREAKING: SEC Delays Franklin Ethereum ETF Application – Here Are The Details

ENOC Group Partners With Loyyal to Enhance ‘YES’ Rewards Members’ Experience

Join our free newsletter for daily crypto updates!