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- Cryptocurrencies today: Bitcoin, Ethereum, and XRP trade under pressure as the likelihood of the Federal Reserve raising interest rates in September increases:
- Bitcoin's losses stabilized above $62,000 amid increasing probabilities of a rate hike by the Federal Reserve in September.
- Ethereum maintains its stability above the psychological support level of $1,600, but its gains remain limited under the major bearish moving averages.
- XRP's price declined targeting the next major support range at $1.05 - $1.00 as momentum indicators deteriorated further.
Bitcoin (BTC) trades between $62,000 and $63,000 at the time of writing this report on Wednesday, affected by headwinds from macroeconomic uncertainty and geopolitical tensions in the Middle East, especially as the United States and Iran continue to present conflicting narratives regarding nuclear discussions.
Ethereum (ETH) performance reflects Bitcoin's volatility, trading above the $1,600 level but remaining below the critical $1,700 level. Meanwhile, Ripple (XRP) price fell below $1.10, a support level that provided support on Tuesday. This remittance coin appears poised to continue its downtrend towards the next support range between $1.05 and $1.00.
$BTC
$ETH
$XRP