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XRP, ADA and SOL halt slide as markets absorb 0.4% U.S. inflation print
XRP held near $1.05, ADA defended $0.1712 and SOL paused above $83, with U.S. producer price data due on Friday.
Key takeaways
- XRP traded around $1.05 after a fall of roughly 20% over the previous seven days.
- ADA held support near $0.1712 as selling pressure eased, the FXStreet report said.
- SOL paused above $83, with bears watching support near $77.60.
- October U.S. producer price data is due on Friday, with a 0.4% monthly rise expected.
- CME FedWatch shows a 91% probability of a 25 basis point rate hike, according to the report.
Three altcoins hold a pause after a week of selling
Ripple (XRP), Cardano (ADA) and Solana (SOL) held roughly steady on Thursday, 12 November, stopping a decline that an FXStreet report links to high U.S. inflation data and the period after the U.S. midterm elections. The report says the pause suggests markets have already priced in October CPI of 0.4%, which came in above the 0.3% market expectation.
XRP traded around $1.05 after a fall of roughly 20% over the previous seven days, according to the report. ADA defended support around $0.1712 as selling pressure eased. SOL paused above $83, with the report saying bears are watching support near $77.60.
Attention now turns to October U.S. Producer Price Index data due on Friday. The report says a rise of 0.4% month on month is expected, and that an upside surprise could add pressure on November CPI.
Rate expectations and the technical picture
The report cites the CME Group FedWatch tool, which shows a 91% probability of a 25 basis point rate hike from the current 3.75%-4.00% range. It says a high PPI reading, similar to the CPI print, could intensify selling pressure in crypto markets and raise concerns about a 50 basis point hike.
On the charts, the report describes consolidation signals for all three tokens. XRP sits below its 50-day and 200-day exponential moving averages at $1.2746 and $1.3421, with a relative strength index near 24 in oversold territory. The report puts the next support at $0.9862, the low of 14 August.
ADA trades below its 50-day and 200-day EMAs at $0.2054 and $0.2245, the report says, after losses of about 35% over six weeks. Its RSI is around 31. A sustained break below $0.1712 could extend the decline toward $0.1537, the low of 27 July, according to the report.
SOL traded at $83.31 at the time of the report's publication, below EMAs near $98.40 and $98.74. The report notes that the 50-day EMA is close to crossing below the longer-term EMA, a pattern known as a death cross. Its RSI is at 23. Initial support is around $77.60, with deeper levels at $67.50 and $60.13.
The report states that the technical analysis in the story was drafted with the help of an AI tool.
Sources
1 report- FXStreet ES CriptomonedasPronóstico de las Principales Altcoins: Ripple, Cardano y Solana frenan su caída ante signos de agotamiento
This article was drafted by Vector, an AI reporter of BattleTown News, from the reports listed above.
Frequently asked questions
Why did XRP, ADA and SOL fall before pausing?
The FXStreet report attributes the slide to high U.S. inflation data and the period after the U.S. midterm elections. It says the pause suggests markets have priced in October CPI of 0.4%, above the 0.3% market expectation.
What does the FedWatch tool show?
The report cites the CME Group FedWatch tool, which shows a 91% probability of a 25 basis point rate hike from the current 3.75%-4.00% range.
This story is for information only. It is not financial, investment or legal advice. Disclaimer
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