Ripple (XRP) continues to lose momentum on Tuesday, as bears tighten their grip. The drop toward $1.00 aligns with lethargic sentiment in the broader cryptocurrency market. A daily close below that critical demand area could deepen the sell-off, narrowing XRP’s recovery potential.
Dogecoin (DOGE) shows early signs of a potential recovery, trading near $0.070 at the time of writing on Tuesday as bullish momentum divergence suggests selling pressure may be fading.
BNY’s Geoff Yu and David Tam argue that a more dovish Federal Reserve (Fed) and weaker United States (US) labor data have improved conditions for Latin American (LatAm) carry trades, but broken correlations with commodities and lingering inflation risks limit momentum.
Ripple (XRP) holds firmly above the $1.00 near-term support at the time of writing on Monday. The remittance token’s upside is capped under key descending moving averages, undermining the broader technical outlook.
Here is what you need to know on Monday, August 10:
Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.
Bitcoin (BTC) remains resilient, trading near $64,100 on Friday, with bulls defending key support despite cautious market sentiment. US-listed spot Bitcoin Exchange-Traded Funds (ETFs) showed strong inflows through Thursday, pointing to renewed institutional demand.
Gold (XAU/USD) is accelerating its rebound near $4,250 at the time of writing on Wednesday amid easing geopolitical tensions after United States (US) President Donald Trump said that a deal to reopen the Strait of Hormuz was imminent.
Ripple (XRP) edges lower toward the short-term $1.05 psychological support level at the time of writing on Wednesday.
The Euro (EUR) remains practically flat against the British Pound (GBP) on Wednesday, trading at 0.8573 at the time of writing and holding gains from the last two days after bouncing from the 0.8540 area on Friday.
United Overseas Bank’s (UOB) Quek Ser Leang sees USD/CNH trading slightly higher within a developing range, with intraday levels expected between 6.7500 and 6.7620. On a 1–3 week horizon, the pair could continue to edge lower toward 6.7300 as long as 6.7640 holds as strong resistance.
Michael Wan at MUFG explains that South Korean Won (KRW), Thai Baht (THB), Singapore Dollar (SGD) and, to a smaller extent, Philippine Peso (PHP) are the main Asian FX beneficiaries if Japanese Yen strength persists, given their higher sensitivity to USD/JPY.
Ripple (XRP) declines for a second day in a row, trading around $1.07 at the time of writing on Tuesday. The remittance token has continued to sustain a bearish outlook, aligning with the broader cryptocurrency market.
Dogecoin (DOGE) steadies near $0.070 at the time of writing on Tuesday after falling 3.5% last week. While the broader trend remains bearish, improving derivatives metrics and bullish divergences in momentum indicators suggest that selling pressure may be easing, hinting at a potential recovery.
The Euro (EUR) edges lower against the British Pound (GBP) on Friday, hitting session lows at 0.8554 following the Eurozone’s preliminary inflation figures from July.
The US Dollar (USD) falls sharply during the American session on Thursday after United States economic growth missed expectations and underlying inflation moderated.
Ripple (XRP) rises toward the pivotal $1.10 resistance on Thursday, marking three consecutive days of gains. This neutral-to-slightly bullish outlook follows the Federal Reserve (Fed) decision to leave interest rates unchanged in the 3.50%-3.75% range.
The US Dollar (USD) falls sharply during the American session on Wednesday after the Federal Reserve (Fed) left interest rates unchanged. The Federal Open Market Committee (FOMC) maintained the federal funds target range at 3.50%–3.75% in a divided 9–3 vote.
The US Dollar (USD) trades slightly lower on Tuesday as investors reduce some exposure ahead of Wednesday’s Federal Reserve (Fed) monetary policy announcement.
Dogecoin (DOGE) remains under pressure, trading below $0.071 on Tuesday, having fallen over 4% in the previous day. The leading meme coin continues to face mounting selling pressure as social dominance fades, funding rates remain negative, and bearish traders increase their short positions.
The US Dollar (USD) traded mostly unchanged on Monday as a temporary pause in hostilities between the United States and Iran reduces demand for safe-haven assets. The US Dollar Index (DXY) traded lower earlier in the session but moved closed to breakeven by the late American afternoon.
Geoff Yu at BNY sees Latin American (LatAm) assets benefiting again from improved terms of trade for energy and soft commodity exporters, with strong real-rate anchors supporting currencies and duration.
Ripple (XRP) maintains narrow range trading on Monday, with support at $1.10. The token's upside remains largely constrained, as major moving averages trend downward, aligning with low demand in both the institutional and retail markets.
Ripple (XRP) slides toward the short-term $1.10 support on Friday, as broader crypto market sentiment weighs on crypto assets. The sell-off mainly stems from fears of inflation in the United States (US) amid the ongoing war in the Middle East and rising Oil prices.
Ripple (XRP) is losing momentum on Thursday, albeit gradually, trading above $1.13.
BNY’s Geoff Yu highlights that the Philippine central bank has intervened as higher Oil prices pressure Asian importers.
Ripple (XRP) retains a slightly bullish outlook on Wednesday despite logging a minor correction from the supply range near $1.15.
Here is what you need to know on Wednesday, July 22:
United Overseas Bank’s Quek Ser Leang notes that USD/CNH retains a downside bias in both the 24-hour and 1–3 week horizons, with key support around 6.7600 and strong resistance at 6.7820.
The US Dollar (USD) advances on Tuesday as escalating tensions between the United States (US) and Iran push energy prices higher and revive concerns that inflation could remain elevated. The Greenback also benefits from safe-haven demand despite softer US inflation and employment indicators.