Ripple $2‘s XRP is trading at $2.08, maintaining its position just above a crucial support level. Developments in the United States, particularly the potential removal of Federal Reserve Chairman Jerome Powell, are garnering significant market attention. This situation could set the stage for Bitcoin
$94,944 to surpass the $110,000 mark.
Political Developments and Market Reactions
Reports indicate that U.S. President Trump is considering Powell’s removal. According to White House economist Kevin Hassett, this development could create volatility in traditional financial markets.
Kevin Hassett: “Trump is evaluating the possibility of removing Powell.”
Market participants are approaching this news with caution.
Expected Movements in the Crypto Markets
Following political uncertainty and the possibility of a central bank crisis, activity in the cryptocurrency markets is anticipated. Some analysts suggest that Bitcoin could establish an upward trend if certain thresholds are crossed. Consequently, an increase in XRP and other altcoins is also projected.
Derivative market data shows that strategic investors are reassessing their positions for hedging purposes. The decline in XRP’s derivative volume and the rise in open positions indicate a cautious approach is being adopted. While retail investors maintain net long positions on platforms, institutional investors are favoring more defensive strategies.
The market is shaped by the differing attitudes of retail and institutional investors. While retail players are in net long positions on exchanges like Binance and OKX, larger investors are reducing their use of leverage. This trend reflects the anticipated volatility in the market.
Analysts note that Powell’s potential removal could impact confidence in U.S. monetary policy. Such a development may lead to increased volatility in risk assets and the cryptocurrency markets. Caution is expected from the market at this stage.
If Bitcoin surpasses the established threshold level, XRP could experience a price increase ranging from 30% to 40%. Target levels are evaluated between $2.21, $2.30, $2.45, and ultimately between $2.75 and $3.10. Investors express that these forecasts could change based on market conditions.
In evaluating the market, the importance of a cautious approach and hedging strategies is emphasized. Investors should carefully craft their positions in light of political uncertainties and closely monitor market trends.