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8:26 pm · 27 Sept 2024
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Bitcoin’s price crossed above the $66,000 on Friday, reaching highs of $66,400 across major exchanges.
While bulls failed to extend gains during the US trading session, which had BTC flipping to around $65,789, sentiment remained bullish going into the weekend.
Here’s an outlook for Ripple’s XRP, Maker (MKR) and Notcoin (NOT).
What latest US inflation data means for markets
One of the reactions in the market on Sept. 27 was around the economic data on personal consumption expenditure.
With the PCE index showing inflation, economist Mohamed A. El-Erian said its possible markets will react positively amid potential soft landing.
“A good set of US data today with PCE inflation falling to 2.2%, core to 2.7% and consumer sentiment improving to a 5-month high,” El-Erian wrote on X. “These numbers will reinforce what is already a strong market consensus of a favorable soft landing for the economy.”
This outlook could see investors shed jitters and increase their bets on risk assets, with Bitcoin and crypto likely to rally hard.
XRP price
Ripple news on Friday revolved around speculation that the US Securities and Exchange Commission (SEC) could be looking to appeal last year’s court decision on XRP sales. Pro-XRP lawyer John Deaton, who was one of the litigants in the Ripple vs. SEC case, said talk of appeal “makes no sense and would be a total waste of taxpayer money.”
Despite the negative reports, XRP price remained above $0.58 and could reclaim $0.60 after Grayscale announced its XRP Trust was now open to eligible accredited investors. XRP price surged when Grayscale made the initial announcement last week.
XRP also features among Grayscale’s snapshot of the top 10 cryptocurrencies by one week returns. The altcoin sits 10th on the list, which has Shiba Inu, Cardano, Dogecoin, Solana and Ethereum as top five by returns this past week. BNB, Bitcoin,Toncoin and Tron also feature.
Maker (MKR) price
Maker (MKR) continues to trade in the market following the recent rebrand to Sky (SKY).
The token is up 11% in the past week and breaking to $1,690 sees it hover near early Sept. highs. But according to crypto analyst Ali Martinez, MKR price suggests a bottom on the 4-hour chart. A breakout could push MKR to highs of $1,850, a level last seen in late August.
Notcoin (NOT) price
Notcoin (NOT) is not the hottest Telegram related token that it was a few months ago. However, its price is likely to reclaim key levels in coming months to go with positive network growth metrics.
Martinez also shared a prediction for Notcoin price, noting on X that the altcoin is showing a buy signal. A breakout from a falling wedge could push NOT to $0.014. NOT currently hovers above $0.010, up 23% in the past 24 hours and nearly 40% up in the past week.
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