Bitcoin (BTC)
$97,096 continued its upward trend, surpassing a peak of 97,000 dollars. In contrast, altcoins did not reciprocate this movement clearly. As the weekend approaches, investors may be concerned about potential losses due to decreasing volumes. Additionally, they are cautious ahead of the upcoming significant week with critical financial announcements.
XRP Coin Insights
This week’s labor data was released, reflecting higher-than-expected rates but lower than the previous month, resulting in a stock market rally. This recovery was also felt in the leading cryptocurrency as Bitcoin kept pushing the boundaries. The upcoming week will see close monitoring of Federal Reserve Chair Powell’s statements, as rate cuts are anticipated to begin by June.
As this article was prepared, XRP Coin retraced to the 2.2-dollar support level. The retracement following BTC’s 97,900 peak has made investors cautious. However, if Bitcoin closes above 96,000 dollars consistently, altcoins might initiate a comeback.
For now, XRP Coin will be monitored around the 2.2 and 2.16-dollar levels. Weekend attempts near 2 dollars could materialize, but due to Fed-induced volatility, further tests towards 2.35 dollars are anticipated soon.
The upcoming CME listing on May 16 could boost the chances for an XRP Coin ETF approval. Bloomberg experts have revised the approval likelihood upwards to 85%, with a decision expected in November.
AVAX and Pi Coin Analysis
With the decline in XRP Coin’s price, significant movement in AVAX was also unrealistic. AVAX has been underperforming and is weighed down by annual inflation and TVL weakness. If weekend sales commence, AVAX could target the key point of 19.75 dollars. Conversely, if the market moves the opposite way, the target would be 23 dollars.
Pi Coin continues to be ignored by major exchanges. However, as events progress throughout May, the team might reignite interest with new announcements. Long-term discussions on transparency issues may remain a risk factor.
Having failed to overcome the resistance at 0.758 dollars, Pi Coin bulls now find themselves losing the 0.618-dollar support, shifting their target to 0.55 dollars. Continued selling pressure could see new lows between 0.534 and 0.458 dollars.