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XRP The fragile rebound of Bitcoin, Ethereum and Ripple is facing a test
As the probability of a possible rate hike at the Fed's September 16 meeting climbs to 86.5%(according to CME FedWatch tool data), the fragile rebound of Bitcoin, Ethereum and Ripple is facing tremendous pressure. The shift in expectations stems from the latest inflation data and has placed a heavy burden on the broader cryptocurrency market this week.
Under pressure from the Federal Reserve to raise interest rates, Bitcoin came under pressure before the FOMC meeting.
Previously, the market's expectation of a Federal Reserve to raise interest rates was close to 70%, but after the release of data that the U.S. consumer price index (CPI) rose 3.4% year-on-year, this expectation quickly heated up. If interest rates are raised, it will be the first interest rate increase in three years and will also signal a tightening of monetary policy stance.
However, based on Bloomberg's latest survey of policymakers, Fed officials do not fully agree on this outlook. Fewer than 13% of the 48 respondents expected a rate hike at the September meeting. Most economists also believe that interest rates will remain unchanged by the decision-making point in December 2027.
Bitcoin's technical chart structure points to higher price levels despite concerns about a Fed rate hike. Analyst Michaël van de Poppe expects the market to experience a period of consolidation before the next round of gains. He predicts that prices are expected to break through the $90,000 to $92,000 resistance zone, and bull markets typically do not experience a sharp correction.
Ethereum nears US$3,000 mark, ignoring interest rate hikes
Ethereum is currently trading around $2,535 and faces key resistance levels of $2,547 to $2,550. Analyst Ted Pillows pointed out that the asset has returned to this important area of resistance. If we can effectively break through this range, it will open up room for higher price targets.
According to Pillows 'analysis, the next major resistance level is above $2,800. If there is a correction in prices, support will be around $2,215 and $1,965 respectively. If the weekly closing price stabilizes above $2,550, the rally will be further consolidated.
Pillows suggested that such a closing performance could push Ethereum towards the $3,000 mark. However, the Fed's decision to raise interest rates may still interfere with this trajectory in the short term. Overall risk sentiment remains closely linked to the final outcome of the September Fed meeting.
Ripple tests key support levels amid uncertainty
In contrast, Ripple (XRP) is currently in a more difficult situation than Bitcoin and Ethereum. In the past three weeks, the token's price fell from $1.70 to $1.35, a drop of nearly 20%. Analyst Ali Martinez tracked the decline through on-chain data and whale activity.
Data shows that in the past week, whale addresses sold or reallocated approximately 90 million XRP tokens. At the same time, the number of daily active addresses dropped by 90.18%, from 388,492 to 38,163. This sharp decline suggests a significant contraction in online activity and user engagement.
Martinez pointed out that US$1.35 is the decisive support area for Ripple, with approximately 2.29 billion tokens changing hands at this price point. If the price can recover above US$1.38, Ripple is expected to revisit the target levels of US$1.60 and US$1.68.
Overall, the Federal Reserve's interest rate hike remains the core factor dominating the price trend in the crypto market this week. Changes in borrowing costs directly affect the risk appetite of digital assets and stock markets. Traders will pay close attention to the September 16 announcement for guidance on the future direction of Bitcoin, Ethereum and Ripple.
