🌕 Gate Square · Creator Incentive Program Day 8 Topic– #XRP ETF Goes Live# !
Share trending topic posts, and split $5,000 in prizes! 🎁
👉 Check details & join: https://www.gate.com/campaigns/1953
💝 New users: Post for the first time and complete the interaction tasks to share $600 newcomer pool!
🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
Recently, the Fed announced a rate cut decision, triggering fluctuations in the crypto assets market. Before the rate cut news was released, the price of Bitcoin experienced a fall, mainly due to precautionary measures taken by market participants to avoid risks. However, after the rate cut was implemented, the price of Bitcoin rebounded.
The reason for this phenomenon lies in the fact that the expectations of the Fed officials exceeded market expectations. Nine officials believe that there will be a cumulative rate cut of 75 basis points this year, equivalent to three rate cuts of 25 basis points each. This is more aggressive than the market's original expectation of two rate cuts, increasing the likelihood of rate cuts in October and December, which is undoubtedly a better-than-expected piece of news.
However, this decision also brings a potential negative factor: there may not be any interest rate cuts next year. This essentially moves a planned rate cut from next year to this year, changing the pattern from "two cuts this year + one next year" to "three cuts this year + zero next year."
In the face of the inconsistency between market expectations and actual conditions, investors need to remain calm and carefully analyze market trends. Recently, the price trends of major crypto assets such as Bitcoin, Ethereum, and Solana have aligned with previous predictions. Bitcoin once reached a high of $117,286, close to the predicted extreme resistance level of $117,429. Solana is nearing the extreme resistance level of $245.71, while Ethereum has also broken through the expected range of $4,600-$4,617.68.
Although these Crypto Assets have reached the expected Rebound targets, market participants are still closely watching whether they will continue to rise. In this uncertain market environment, it is particularly important to keep an eye on market dynamics and maintain rational analysis.