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The fluctuations in the cryptocurrency markets continue, with trading volumes significantly increasing. While altcoins have faced larger losses, crypto investors are hopeful for a recovery starting January 20. Popular figures in the field have shared their insights on the current situation, particularly focusing on Bitcoin predictions. The pressing question remains: what will the price of XRP Coin be?
Michael Poppe, known for his optimism in the crypto markets, remains unfazed by the recent downturn. Given the ongoing fluctuations, the extent of additional sales and liquidity remains uncertain, especially with the recent negative U.S. data suggesting inflation could exceed previous levels. As a result, today’s decline isn’t entirely unexpected.
Moreover, the Biden administration is under pressure to sell existing BTC holdings before Trump’s inauguration, which must be completed in a few days due to court approvals. Concerns regarding billions of dollars in sales are contributing to today’s negative market sentiment.
Poppe commented, “It seems we are experiencing a classic ‘sell the rumor, buy the news’ scenario. The question is: what event?” He noted key events such as the CPI and PPI reports and Trump’s inauguration, stating that substantial selling occurred in the altcoin markets earlier this year.
For XRP Coin, the critical level was marked at $2.38, which it managed to maintain despite significant drops. The certainty of Gensler’s resignation has motivated XRP investors, but should Bitcoin dip towards the feared $80,000, this enthusiasm may falter as investors become anxious about a downward trend.
In potential extreme sell-offs, the price could test $2.01, while closes above $2.38 would indicate a continued potential return to the $2.5 to $2.93 range.
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