Cryptocurrency
from24/7 Wall St.
24 minutes agoXRP Price Prediction: What Happens to XRP If Oil Stays Above $100 and the Fed Doesn't Cut?
XRP's price struggles despite strong fundamentals due to macroeconomic pressures and high oil prices.
Metals are hot, and Bitcoin's not, much to the chagrin of the crypto sector. Silver peaked above a record-high $120 per ounce in the early hours of trading on Thursday, and gold also rose to a record price of about $5,600. Meanwhile, Bitcoin is down below $85,000, plummeting about 33% since its all-time high in October, according to Binance.
Profit-taking pressure at elevated levels, combined with a series of mixed macroeconomic signals, has left the market in a state of hesitation, unable to establish a clear short-term trend.
South African equities are seen vulnerable to pullbacks despite a recent rally, suggesting that investors are reassessing valuation levels after pushing the JSE FTSE Top 40 index above 85,000 points.