What’s Behind the Crypto Price Drop: BTC, ETH, DOGE, XRP Down

XRP price is experiencing choppy movements that could continue for most of this week after the SEC delayed its decision on Franklin Templeton’s Ripple ETF filing. However, Bloomberg believes there is an 85% odd of approval by the final deadline in October. With the increased chances, traders are speculating whether to buy XRP now and await gains.

XRP Remains Flat As Bloomberg Eyes ETF Approval in Q4

XRP value today is experiencing sideways moves with no clear breakout despite a bullish outlook in the broader market as Bitcoin defends $95,000. Its lack of meaningful gains comes after the SEC delayed the decision on Franklin Templeton’s XRP ETF filing until June 17.

Despite this development, Bloomberg has increased XRP ETF approval odds to 85% while analyst James Seyffart has opined that the commission may give its nod on the pending applications during the last quarter of 2025. While responding to Crypto in America host Eleanor Terrett, Seyffart added that the SEC approve the filings before the final decision date.

Seyffart is likely basing his projection for approval on the SEC vs. Ripple lawsuit coming to an end. The new chair, Paul Atkins, took office last week, and he may be the key to this case finally being closed.

Should You Buy XRP Before ETF Approval Deadline?

Approval will mean gains for the XRP price, considering that institutions have shown interest in the Ripple ETFs that are already trading. The first US leverage Ripple ETF by Teucrium has amassed $55M in net assets one month into launch, while Brazil also debuted a spot ETF.

According to analyst Chad on X, approval will fuel a price rally by opening up a new revenue stream for most investors. Meanwhile, investment banking giant Standard Chartered has predicted that XRP might skyrocket to $5.50 by the end of the year while attributing this rally to ETF products.

Therefore, a trader looking to front-run a potential rally should consider buying now despite the ETF approval delay. However, caution is still advised as the SEC might still reject the applications if the lawsuit fails to be officially closed by year-end.

XRP Price Analysis as Bulls Retain Control

XRP bulls show resilience despite the rally halting after hitting resistance at $2.30, suggesting that an uptrend may be on the horizon. The token is trending within the upper Bollinger band, implying a strong bullish momentum and the likelihood of the rally continuing.

Meanwhile, the RSI continues to rise and has reached 56, which points to sustained buying pressure and a likelihood that the XRP price will continue to trend upwards.

If the bullish scenario holds and Ripple maintains support at the middle Bollinger band, it faces the next resistance at $2.61, and if it can flip this level, it could continue the toward trend towards $3.

Hence, XRP price is facing a bullish recovery as traders await the approval of spot ETF filings after Bloomberg raised their odds of the product debuting in the US to 85%. Traders might frontrun this approval and fuel gains for Ripple in the near term.

The post XRP Price Prediction: Should You Buy XRP Before SEC Approves Ripple ETF? appeared first on CoinGape.

Fed Chairman Jerome Powell gave his first speech after the Federal Open Market Committee (FOMC) decided to keep interest rates unchanged. Considering the current economic outlook, the Fed Chair noted that its policies are strong for now. Powell noted that the Fed will continue to watch inflation gauges for changes as part of its measures to maintain economic stability and stem inflation.

Jerome Powell Speech: Quantitative Easing Begins

As reported earlier by CoinGape, the Fed maintained interest rates at 4.5%. Powell stated in his speech that the inflation outlook is transitory with the Donald Trump-induced tariff in North America. 

Speaking on the inflationary trend, the Fed Chair referenced measures from the Bank of Canada to prevent the bloated surge in the price of goods owing to the tariff war. He said the US measures to tighten or loosen gauges to prevent inflation challenge the FOMC. However, he noted that the United States is not at the level where it will be concerned about the longer-term impact of the trade war.

Ahead of the March FOMC Meeting, the forecast to keep interest rates unchanged was resounding. However, speculations trailed the broader Quantitative Easing (QE) outlook. In line with this, the Federal Reserve Chairman has provided definitive guidance.

“The Committee will slow the pace of decline of its securities holdings by reducing the monthly redemption cap on Treasury securities from $25 billion to $5 billion,” outlining its measures to begin QE.

Jerome Powell said this year that the Fed will adapt based on the market outlook.

Tariff War and Economic Expectation

While the Trump administration has masked the market with tariff concerns, Jerome Powell said in his speech that this trend is partly to blame for the current inflation level.

However, he hinted that the tariff war does not influence all economic activity. He cited the service sector as insulated from this trade war. When asked about his take on Americans who are displeased with the inflation outlook, the Fed Chair said this displeasure is understandable since they are at the price level.

As part of the speech, the Chairman hinted at a possible 2-time interest rate cuts before the end of this year.

Market Reaction to Fed Chair Speech

The market’s volatility recently flipped bullish, drawing on broader economic indices. While keeping interest rates unchanged might help stabilize prices in the short term, lingering uncertainty remains a key headwind in the market.

As of writing, data from CoinMarketCap pegs the price of Bitcoin at $85,516.99, up by 4.30% in 24 hours. Altcoins like Ethereum, XRP, and Solana (SOL) also rallied by 7.61%, 11.85% and 7.11% within the same period.

Beyond the Fed Chair speech, the US SEC’s dismissal of the Ripple lawsuit created a short-term tailwind for the crypto market.

The post Jerome Powell Speech: Fed Chair Break Silence on Inflation, Tariff War appeared first on CoinGape.

The post SUI Enters a Pivotal Range-A 25% Upswing seems to be Imminent Before the End of the Month appeared first on Coinpedia Fintech News

The SUI price has risen above the bearish trend that it held since the start of the year, when it marked a new ATH above $5.3. With this breakout, the token has triggered a fresh upswing, which is believed to secure an important resistance level. While the possibility of a continued upswing remains higher, the question remains whether the SUI price will mark a new ATH in Q2 2025.

The SUI ecosystem has been swelling and has emerged as the top-performing one. Besides, the DEX volume over the platform has surpassed $80 billion, while the best-performing tokens in the top 100 are from the SUI ecosystem. On the other hand, more than $12 million in shorts have been liquidated in the last 24 hours. This suggests the market participants have become hopeful of the next price action, and hence, the rise in optimism may lead the rally towards a new ATH. 

The daily chart of SUI suggests the token has risen above the bearish influence after triggering a breakout from the edge of the consolidation. The price has broken above the falling wedge, indicating a rise in bullish activity. Besides, the supertrend has turned bullish and hence a rise above the resistance zone between $2.8 and $2.85 could validate a rise above $3 in a short while from now. However, the SUI price is expected to trigger a fine bull run once it secures the 200-day MA at $3.17. 

The technicals have also jumped in favor of the bulls, as the MACD is about to enter the positive range while the RSI is about to rise above the upper threshold. On the other hand, the ADX is preparing for a bullish divergence, hinting towards a potential rise in the rally’s strength. The Chaikin Money Flow (CMF) has just surged above 0, hinting towards a rise in the money flow into the token. 

Therefore, the SUI price is expected to maintain a consolidated upswing and reach $3.3 by the end of the month and later head towards a new ATH. 

The post SUI Enters a Pivotal Range-A 25% Upswing seems to be Imminent Before the End of the Month appeared first on Coinpedia Fintech News
The SUI price has risen above the bearish trend that it held since the start of the year, when it marked a new ATH above $5.3. With this breakout, the token has triggered a fresh upswing, which is believed to secure an important resistance level. While the possibility of a continued upswing remains higher, the …