5 min readBitcoin continues consolidating between 83k and 86k as investors monitor the latest trade tariff developments and Fed Chair Powell’s warning over the economic outlook.
The cryptocurrency market is being supported by encouraging trade tariff headlines. President Trump announced “significant progress” in a meeting with Japan, which marked the start of formal trade negotiations. Trump’s update comes amid reports from Bloomberg that China could also be prepared to start talks with the US.
However, this optimism is being met with some concerns from Federal Reserve Chair Jerome Powell that tariffs at current levels could lead to stagflation, characterised by sticky inflation and slower economic growth, supporting the Federal Reserve’s wait-and-see approach to rate cuts.
With ongoing uncertainty, the market appears to lack a fresh catalyst to drive a move above 86k to 90k. Technically, the price is struggling to meaningfully break above the falling trendline dating back to 109.5k, the January high, and the 50 SMA.
According to Santiment data, the sentiment tracker, which tracks social media posts, turned bullish after a bout of neutrality amid the price uncertainty. This suggests that trades might be showing some optimism that BTC could return to 90k.
XRP holds above $2 as the Ripple vs SEC case is paused
XRP is rising, holding above the key $2.00 level, after a court granted a joint motion filed by the Securities and Exchange Commission (SEC) and Ripple to pause the appeal proceedings in their years-long securities violation case.
The SEC must submit a status report by June 15. This could mark a major development in winding up the case, which was initially filed in December 2020. A final resolution could potentially come soon.
A federal court had found Ripple liable for 120 million in August, resulting in both the SEC and Ripple filing an appeal and a counter appeal, respectively. However, under President Trump’s administration, the SEC, led by Mark Uyeda, has dropped multiple enforcement cases against crypto firms, and a political shift.
The crypto community will closely watch developments as it could set a major regulatory precedent.
XRP forecast – technical analysis
XRP trades in a falling channel. The price has recovered from its 1.61 2025 low, rising above the 200 SMA and is testing resistance of the upper band of the falling channel. To extend the recovery, buyers would need to rise above the falling trendline at 50 SMA at 2.24, which is also the April high. Above here 2.50 comes into focus.
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