Cryptocurrencies Price Prediction: Ripple, Bitcoin & OKB — Asian Wrap 22 August
XRP Price Forecast: Investors lock in $300M profit with Fed Chair Powell's speech in sight
XRP saw an uptick in profit-taking activity over the past 24 hours as a brief recovery in the market was dented by hawkish FOMC minutes. The remittance-based token tagged $3 on Wednesday but quickly retraced as policymakers signaled a preference for inflation data in establishing interest rates. With inflation coming in hotter-than-expected last week, the minutes have fueled concerns that the Fed may hold rates steady in its September meeting.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP could face volatility as markets eye Powell at Jackson Hole
BTC price has fallen over 8% from its record of $124,747 on August 14, closing below an ascending trendline drawn by connecting multiple lows since early April this week, and retested its support level at $111,980 on Thursday. At the time of writing on Friday, it hovers at around $113,432. If the support at $111,980 holds and BTC recovers and closes above its 50-day EMA at $114,786, it could extend the recovery toward its next daily resistance at $116,000.
Crypto Gainers: OKB hits record high as ZEC and MORPHO hint at breakout rallies
OKB edges higher by 7% at press time on Friday, extending the 33% rise from Thursday. The bullish run induced by the 65 million token burn reaches the R3 pivot resistance level at $255, as previously estimated by FXStreet. A decisive close above this level could boost the rally to the R4 pivot level at $311.
Author
FXStreet Team
FXStreet
