Bitcoin, Cardano and Ripple – American Wrap 9 December

Bitcoin, Ethereum, XRP and other cryptocurrencies are advancing after a drop in US PPI numbers. The drop comes after both the core PPI and the overall PPI dropped substantially, which points to the fact that inflation in the US is set to drop lower on Tuesday. These two elements together will see the Fed adjusting their communication next week and could bring a dovish surprise with a bow for investors for this year

Cardano (ADA) price is advancing in the wake of important US data coming out throughout the US trading session. First up, at the start of the US session on Friday is the Producer Price Index numbers (PPI), which analysts forecast to be tilting to the downside. This would mean that overall inflation is cooling down further.

Ripple price will be very muted Friday morning as traders are bracing to take or leave the last chance to get this Christmas rally underway. With the US Producer Price Index (PPI) coming out Friday afternoon, global markets will look for indications that prices in the US are coming further down, opening up room for the Fed to become less aggressive. This would revalue several asset classes higher than where they are currently valued, translating to XRP price producing a 7% gain in one trading day with $0.4228 as the profit target.

 

 

 

 

 


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