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Here Are The Upcoming Price Targets for BTC, ETH, and XRP

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The post Here Are The Upcoming Price Targets for BTC, ETH, and XRP appeared first on Coinpedia Fintech News

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base interest rate is now hanging around 2.5%, but following today’s policy meeting, it is largely anticipated that the US central bank will increase it by 75 basis points to 3.25% in order to combat increasing inflation.

According to popular theory, this may cause short-term liquidity runs on both sides but ultimately start an upswing. Markets may tumble if the Fed decides to raise interest rates by 100 basis points (bps) rather than the anticipated 75, which would raise the base rate to 3.5%.

The price of bitcoin is currently resting below the previous weekly lows at $18,500, indicating that a recovery is imminent. However, as was already indicated, the FOMC meeting might be crucial in determining how the markets develop going forward.

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However, a break of this level might trigger a reversal, propelling BTC to the next barrier at $19,539 and $20,737. The optimistic perspective will be invalidated and a drop to $15,550 would result if the Bitcoin price breaches below and then transforms the $18,293 support level into a resistance barrier.

Ethereum (ETH)

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After establishing three lower lows and two lower highs since August 4, the price of Ethereum now appears to be circling in a parallel declining pattern. While ETH is presently trading around $1,280, it is possible that it will continue to fall. If the bulls gain control, ETH can pass through the $1,550 immediate resistance level. The optimistic prognosis will be invalidated and Ethereum’s price might fall to $1,080 if the daily candlestick closes below $1,280.

Ripple (XRP)

After a 24% leg-up, the ripple price has finally broken through the $0.381 barrier level. The XRP price appears positive and is anticipated to keep rising to $0.439 in the near future. If this level were to be turned into a support floor, the move might be extended to $0.477.

The bullish thesis will be disproved if the price of XRP falls below the $0.331 support floor and turns it into a resistance level. This development might cause the $0.309 barrier for XRP to reappear.

Terra Luna Classic soars as Binance implements LUNC burn

Terra Luna Classic (LUNC), the original version of the collapsed cryptocurrency Terra Luna, is smashing upwards on Monday afternoon, with massive gains sending the coin to highs seen early last week. The LUNC/USD pair was trading around $0.00029885 at the time of writing, with intraday highs of $0.00031905 across major exchanges that list the coin.::Listen

Terra Luna Classic (LUNC), the original version of the collapsed cryptocurrency Terra Luna, is smashing upwards on Monday afternoon, with massive gains sending the coin to highs seen early last week.

The LUNC/USD pair was trading around $0.00029885 at the time of writing, with intraday highs of $0.00031905 across major exchanges that list the coin.

According to CoinGecko data, the cryptocurrency has surged by more than 40% in the past 24 hours – most of the gains coming after what is good news in the form of Binance support for the cryptocurrency’s burn mechanism.

Binance implements LUNC burn

On Monday, Binance CEO Changpeng Zhao announced that the crypto exchange, the world’s largest by trading volume, would implement a 1.2% tax rate burn as the Terra Luna Classic community looks to reduce the coin’s supply.

Binance will implement a burn mechanism to burn all trading fees on LUNC spot and margin trading pairs by sending them to the LUNC burn address. The specific amount of LUNC to be burned, its equivalent value in USDT, and on-chain transaction ID will be updated each week in this announcement until further notice,” the exchange informed its customers.

Zhao also commented on the LUNC tax burn, noting the platform is implementing the model as LUNC holders would not have supported an earlier announced opt-in proposal. He tweeted:

As for what happens to the fees, Binance noted: “Trading fees on LUNC spot and margin trading pairs that collected in a token other than LUNC (e.g., USDT, BUSD and BNB) will be converted to LUNC with the real-time exchange rates on Binance every Monday at 00:00:00 (UTC).”

In the past 24 hours, Terra Luna Classic has registered a daily trading volume of just over $2.4 billion, with CoinGecko data showing a circulating supply of 6,901,298,301,199 LUNC.

The post Terra Luna Classic soars as Binance implements LUNC burn appeared first on CoinJournal.

Here Are The Upcoming Price Targets for BTC, ETH, and XRP

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