🚨 Crypto Market Recap: Key Moves and Shocking Developments

📰 News

🏛 Donald Trump Floats 100 BPS Rate Cut Ahead of FOMC Meeting

Trump Cites Prediction Of A 100 BPS Rate Cut

In a Truth Social post, the U.S. president cited Greg Faranello, who opined that the Fed needs to lower interest rates from the current benchmark. The market expert had also said that the Fed is likely to come down here by “50, 75, or maybe 100” bps.

Trump also cited Jay Hatfield’s comments on how the Federal Reserve is “broken” and that it needs to be “fixed,” and that there was a need to use modern sources of information in determining when to make Fed rate cuts. The comment also suggested that Powell had done a terrible job since he adopted a 2% inflation target, as it is too low and rigid.

Hatfield also opined that the Fed is following outdated data to determine monetary policy, which he claimed is a much bigger problem than the notion of Fed independence. Notably, Trump’s post comes ahead of the FOMC meeting next week, when the Fed is likely to make its first rate cut this year.

However, the president believes that Powell is too late and that the committee should have made several Fed rate cuts before now. Powell had signaled at Jackson Hole that they might have to lower interest rates due to the downside risk in the labor market, which looks to be rising.

As CoinGape reported, the August U.S. jobs data came in way below expectations as the U.S. economy added only 22,000 jobs last month, as against projections of 75,000. Meanwhile, the unemployment rate came in at 4.3%, nearing a 4-year high.

📢 Cboe to Launch Bitcoin, Ethereum Continuous Futures on November 10

Cboe Continuous Futures For BTC and ETH To Launch In November

In a press release, the exchange announced that it plans to launch continuous futures for Bitcoin and Ethereum, beginning November 10, pending regulatory review. It stated that it has designed these new futures products to “efficiently deliver continuous long-term market exposure” to BTC and ETH.

Furthermore, the Cboe continuous futures will aim to provide access to perpetual-style futures in a U.S.-regulated, intermediated environment. This is similar to the CFTC-regulated perpetual futures that the top crypto exchange Coinbase launched in July.

Cboe noted that the new product suite will offer U.S. traders a “simpler and efficient way to gain long-term exposure to digital assets, execute trading strategies and manage risk – all within a U.S.-regulated, centrally cleared and intermediated framework.”

The Cboe Continuous futures contracts will have a 10-year expiration. The exchange will also settle the contracts in cash and align them with real-time spot Bitcoin and Ethereum prices through daily cash adjustments.

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📊 Market

🔍 Ripple Ecosystem Growth Meets Technical Strength—Is XRP Price on the Verge of $10?

XRP Price Charts Mirror Historic Setup For A Possible $10 Surge

According to an analyst on X platform, the XRP price structure reflects past consolidations where triangular phases eventually resolved into parabolic advances. The XRP current value is trading at $3.01, showing signs of building momentum within a recurring chart pattern.

The analyst emphasizes that the latest sequence shares similarities with the 2017 surge, when XRP experienced exponential gains. This has elevated expectations that the current formation could launch XRP toward the projected $10 zone.

CoinGape earlier predicted that XRP’s breakout structure puts a $6 target in play before higher levels. Still, sustaining support at $1.95 is crucial for preventing a structural breakdown. Failure to defend this level could trap the asset in extended sideways consolidation.

At the same time, continued accumulation suggests strong conviction among market participants. Therefore, XRP price finds itself at a turning point that may determine its path toward new milestones.

🔮 Meme Coin Price Prediction: Shiba Inu, Pepe Coin, Dogecoin, TRUMP

Meme coin prices have rebounded in the past seven days as crypto investors brace for the upcoming Federal Reserve interest rate cut and as Bitcoin remains above $113,000. This meme coin price prediction provides forecasts for top tokens like Shiba Inu (SHIB), Pepe Coin (PEPE), Dogecoin (DOGE), and Trump Coin (TRUMP).