Bitcoin continues to rise in price despite concerns of a potential retracement. The strength of BTC’s price contradicts the hawkish stance of the Federal Reserve. XRP’s price also saw a significant increase following Ripple’s legal victory. The speech by Fed Chair Jerome Powell had little impact on BTC’s trajectory, as he maintained a conservative outlook. Market expectations for future rate decisions have shifted, with the next meeting expected to keep rates unchanged. The dropping of criminal charges against Ripple executives further boosted XRP’s price. Traders anticipate a potential “impulse” in Bitcoin’s price, with expectations of it going much higher. However, there are warnings of a possible retracement during the U.S. trading session.
