Cryptocurrency

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/feds-actions-impact-cryptocurrency-markets/" data-wpel-link="internal">Fed’s Actions Impact Cryptocurrency Markets</a><br></p>
<p style="text-align: justify">Fed did not benefit the cryptocurrency markets, and the expectation of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> cuts for this year has decreased, lowering prices. Essentially, the latest inflation <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> should have motivated Fed members for a 75bp cut. However, this did not happen. Perhaps with the June inflation data (if it comes in low again), we might see members change their decisions on cuts.</p> 
<h2 style="text-align: justify" id="xrp-coin-analysis">XRP Coin Analysis</h2> 
<p style="text-align: justify"><strong>Ripple</strong> team announced they would launch their stablecoin on <strong>Ethereum</strong> and XRPL networks by the end of the year. This significant move, along with the agreement on the AXL bridge, improves <a href="https://en.coin-turk.com/growing-popularity-of-ripple-among-young-investors-in-south-korea/" data-wpel-link="internal">XRP</a> Coin’s forecasts for the end of 2024. The Ripple team’s inability to take significant steps in building the <strong>XRP Coin</strong> ecosystem due to their legal issues was a major shortcoming, and addressing this could increase the price.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-362235 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/XRPUSDT_2024-06-13_23-48-18.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">At the time of writing, the altcoin was trading at $0.479, narrowly escaping the $0.45 tests. If the $0.49 threshold is reclaimed and $0.51 becomes support again, new attempts towards $0.58 and $0.63 could be possible.</p> 
<h2 style="text-align: justify" id="sol-coin-analysis">SOL Coin Analysis</h2> 
<p style="text-align: justify">SOL Coin found buyers above $142 and needs to return to $158 and $164. For now, we see the price turning from support for the third day. If a downward break occurs, we might witness gradual tests of previously noted stops between $122 and $98.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-362236 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/SOLUSDT_2024-06-13_23-48-42.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">BNB Coin reached its ATH target, but SOL Coin failing to hold the $205 resistance dashed the $256 target due to BTC sales. This confirms that SOL Coin bulls were already weakening before the BTC price decline. Investors might want to consider potential attempts in the double-digit price range for long-term goals. This indicates opportunities for quick gains. Closing above $81 for SOL Coin could continue the rise in the medium term, while below $68, disaster scenario tests will be targeted.</p> 
<h2 style="text-align: justify" id="shiba-coin-analysis">Shiba Coin Analysis</h2> 
<p style="text-align: justify">SHIBA Coin has been trading within a broad parallel channel for exactly 103 days and is testing the bottom for the first time since April 13-19. If the bottom breaks, we could see gradual sales towards the point where the rise started.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-362239 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/06/SHIBUSDT_2024-06-13_23-53-30.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">$0.0000209 or slightly below could be a good stop point for buying from deeper levels. Or the price might recover after dipping into this area. However, if the BTC decline does not reverse, there is a risk of gradual sales down to $0.0000099. This would mean a 50% loss.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/feds-actions-impact-cryptocurrency-markets/" data-wpel-link="internal">Fed’s Actions Impact Cryptocurrency Markets</a></h5>

Fed’s Actions Impact Cryptocurrency Markets

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