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🔥 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,
The Fed is set to announce its interest rate cut decision soon, a move that could have a profound impact on the financial markets. The dollar is expected to face depreciation pressure, prompting investors to seek new safe-haven avenues, among which the Crypto Assets market may become one of the beneficiaries.
Historical experience shows that during a rate-cutting cycle, funds often shift from traditional low-risk investment areas, such as bonds and bank deposits, to higher-risk areas like the stock market and crypto assets. Loose monetary policy usually stimulates the market's risk appetite, which could benefit mainstream crypto assets such as Bitcoin and Ethereum, as well as other smaller cryptocurrencies.
Despite the potential short-term fluctuations in crypto asset prices on the eve of the interest rate cut decision, this should not affect investors' long-term strategies. The medium- to long-term positive trend in the market still exists, and investors need to remain patient and not be disturbed by short-term fluctuations.
In terms of Bitcoin, market participants should closely monitor the key resistance level of $1158. If the price can break through this level, it may indicate a short-term strength. However, if the price falls back near this level, it may continue the adjustment trend. On the support side, $1130 is an important threshold, and if it can stabilize at this position, it may trigger a technical rebound.
In terms of Ethereum, $4500 is an important psychological barrier. If the price can break through $4600 and maintain stability, it may open a new round of increases. Conversely, if it fails to hold this level, investors need to be wary of possible pullback risks. The $4400-$4500 range is an important support area, and if the price can stabilize within this range, there is still a chance for a rebound.
Overall, although the Crypto Assets market may face volatility in the short term, with the implementation of the Fed's interest rate cut policy, the market may welcome new investment opportunities. Investors should remain vigilant, closely monitor market trends, and maintain a rational attitude towards long-term investments.