Here’s the outlook:
Ripple (XRP)
XRP experienced increased profit-taking in the last 24 hours after a short-lived recovery was interrupted by the release of hawkish FOMC minutes. The remittance-focused token briefly touched $3 on Wednesday before pulling back, as policymakers emphasized their reliance on inflation data to guide interest rate decisions. With last week’s inflation figures coming in hotter than expected, concerns have risen that the Federal Reserve could keep rates unchanged in September.
Bitcoin (BTC)
Bitcoin has dropped more than 8% from its August 14 record high of $124,747. Earlier this week, the coin closed below an ascending trendline that had been intact since April, and on Thursday, it revisited a support level at $111,980. As of Friday, BTC trades around $113,432. A rebound above the 50-day EMA at $114,786 could pave the way for a push toward the next resistance near $116,000, provided the $111,980 support holds.
OKB
OKB continued its strong upward momentum, gaining 7% on Friday and building on a 33% surge from the previous day. The rally, fueled by the burning of 65 million tokens, propelled OKB to the R3 pivot resistance level at $255, in line with earlier FXStreet projections. A firm daily close above this mark may extend the bullish run toward the R4 pivot resistance at $311.
Summary
- XRP briefly hit $3 but retreated after hawkish Fed minutes raised concerns about interest rate policy.
- BTC fell 8% from its all-time high, retesting support at $111,980, with potential recovery if it clears $114,786.
- OKB surged 40% in two days, reaching $255, with further upside possible toward $311 if momentum continues.
