XRP’s Bullish Rally Still Valid? Analysts Demand ’Break Through $2.6’
XRP faces its moment of truth as traders watch the $2.6 resistance level.
The Critical Threshold
Market analysts remain divided on whether XRP can sustain its upward trajectory. The digital asset's performance hinges on breaking through the psychological barrier at $2.6 - a level that could determine its short-term fate.
Technical indicators suggest consolidation patterns are forming, with trading volume showing mixed signals. Institutional interest appears tempered despite retail enthusiasm, creating a classic crypto standoff between hope and skepticism.
Regulatory clarity continues to play shadow games with price action, while traditional finance veterans watch from the sidelines - probably still trying to figure out why anyone would prefer digital gold over the shiny physical stuff.
Precious metals climb as global traders brace for Fed cuts
Other metals followed the same rhythm. Silver ROSE 2% to $52.48, tracking the rally after touching a record $53.60 on Tuesday. Platinum climbed 1.3% to $1,658.65, and palladium edged up 0.9% to $1,538.75.
Over in stocks, Dow Jones Industrial Average futures traded slightly higher, up 11 points, while S&P 500 and Nasdaq 100 futures stayed nearly flat. The calm came after a wild Tuesday, when President Donald TRUMP rattled markets by threatening China with a cooking oil embargo over stalled soybean purchases.
The statement flipped sentiment instantly. The S&P 500, which had swung between a 1.5% loss and a 0.4% gain, closed down 0.2%. The Nasdaq Composite dropped 0.8%, while the Dow Jones managed a 0.4% rise, recovering from a sharp 1.3% morning dip.
Europe rebounds, Asia rallies, China struggles with deflation
Across Europe, stocks regained ground after a two-week slump. The Stoxx 600 was up 0.7% by 8:30 a.m. in London, lifted by luxury names in Paris and Milan. France’s CAC 40 rose 2.4%, Italy’s FTSE MIB gained 0.7%, Germany’s DAX added 0.2%, while Britain’s FTSE stayed NEAR flat.
In France, political headlines took center stage after Prime Minister Sebastien Lecornu said his government WOULD suspend the pension reform plan until after the 2027 election. The Socialists backed the delay and promised to support the administration in Thursday’s confidence vote.
In Asia, markets opened sharply higher. Japan’s Nikkei 225 jumped 1.76% to 47,672.67, and the Topix rose 1.58% to 3,183.64. South Korea’s Kospi surged 2.68% to 3,657.28, with the Kosdaq climbing 1.98% to 864.72.
Australia’s S&P/ASX 200 gained 1.03%, Hong Kong’s Hang Seng advanced 2.06%, and the mainland CSI 300 increased 1.48% to 4,606.29. India’s Nifty 50 added 0.74%, completing a broad rebound across the region.
The exception was China, where the consumer price index fell 0.3% in September from a year earlier, worse than forecasts of a 0.2% decline, though easing slightly from August’s 0.4% drop.
On a monthly basis, prices increased just 0.1%, missing projections for a 0.2% gain. The ongoing slide in producer prices showed that deflation pressures remain, complicating Xi Jinping’s push to restore confidence in the economy.
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