BNB and XRP show potential for gains, with key levels driving market responses.
The US markets have just commenced a holiday break that will last until Monday, rendering the cryptocurrency space relatively solitary. As a consequence, we anticipate a decrease in trading volumes. Earlier this week, the impact of the holiday was becoming increasingly noticeable. The intensity of news flow might lead to fluctuations similar to those observed in the recent hours.
ContentsAVAX and ETH Price PredictionsBNB and XRP Coin Outlook AVAX and ETH Price Predictions
Volatility is a favorite condition for short-term investors, and we are likely to witness more of it in the coming hours. News expected over the weekend regarding the EU meetings holds the potential to trigger significant market movements. Here’s a summary of the current situation: trade agreement discussions have begun, strong US employment data is balancing recession concerns, and the expectation for a rate cut in July has notably decreased. Although a rate cut in September is still anticipated, it remains contingent upon upcoming news about trade tariffs.
In this context, developments appear more “favorable” for cryptocurrencies, suggesting a reduction in uncertainty and an increase in market engagement. The passing of Trump’s tax law in the House of Representatives has fueled optimism about the potential passing of the cryptocurrency law, increasing positivity for the upcoming month of August.
AVAX’s price has surged above $18.5. The potential for positive outcomes from the EU agreement could see the price challenge the $23.8 mark. During a potential holiday rally among altcoins, price closures above $19.45 might increase investor appetite. In a downturn scenario, tests at $17 and $15.6 levels are possible.
ETH has been wedged between $2,480 and $2,700, preparing for a breakout at $2,750. Over a span of nearly 1,100 days, the altcoin leader has faced losses against BTC, which has enabled easy profits for short-sellers by trading within narrow margins. The anticipated scenario in crypto is for the accumulated short liquidity to be liquidated if levels exceed $2,870 and $3,055. The peak, anticipated over the weekend, will rely on the response to the $2,673 resistance. A decline below $2,400 is a critical concern.
BNB and XRP Coin Outlook
Trading BNB around $660 and buying around $600 has long been considered a straightforward profit strategy. Indeed, after testing local bottoms, BNB is once again targeting resistance regions. During the holiday period, targets of $693 and subsequently $730 may come into play. The market reaction to closures above $670 will be decisive.
Turning to XRP Coin, current news is favorable: the appeal has been withdrawn, and Ripple $0.005079 has applied for a banking license. RLUSD is growing, and new agreements are expanding the XRPL ecosystem. These developments collectively favor XRP Coin, setting it up for closures above $2.33.
The target is $2.6, and sustaining this level could enable quick recapture of the $2.87 to $2.98 range. Potential declines could target $2.2 and $2.07, extending to $1.98.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
