As Bitcoin (BTC) hovers around $85,000, this week’s gains have come to a halt, following PCE data that fell short of traders’ high hopes. Amid this backdrop, market participants are left pondering whether a surprising rally could occur, even as skepticism runs high regarding recent short-selling liquidations.
What’s Next for XRP Coin?
Ripple (XRP) finds itself in a favorable position historically, although its price does not fully reflect this. Key developments such as the conclusion of its legal issues and upcoming stablecoin regulations have positioned the coin positively, further aided by potential support from U.S. political figures.
Why Isn’t XRP Rising Further?
Despite these favorable developments, the XRP price remains stagnant due to ongoing trade war tensions, with new tariffs expected to be announced soon. This has left market participants anxious and uncertain.
If XRP drops below the critical $2.20 support line, it may quickly reach $1.98, benefiting short sellers ahead of market openings. Historical trends indicate that downturns often precede significant recoveries, sparking hope for traders.
Low trading volumes over the weekend combined with the impending April 2 developments and rising PCE data hint at the possibility of an unexpected surge in cryptocurrencies.
What About Chiliz (CHZ) and SOL Coin?
Currently, even the most optimistic market voices are cautious, making bearish forecasts more common. The Chiliz (CHZ) coin is nearing a critical support level at $0.038, which it may test soon.
Without any significant market recovery, SOL coin is projected to test the $124-$120 range, potentially dipping below to the $110 support level. In severe sell-offs, a downturn to $98 could occur.
With the market stuck in a cycle of easy profits, analysts suggest that a sudden 15-20% rise in Bitcoin could disrupt this trend and reinvigorate investor sentiment.
