Daily Crypto Signals: Bitcoin Surges Past $114K, XRP Eyes Breakout Amid Ripple Expansion
Bitcoin climbed nearly 3% to challenge $114,000 resistance as US Treasury Secretary Scott Bessent signaled substantial progress on US-China
Quick overview
- Bitcoin climbed nearly 3% to challenge $114,000 resistance following positive signals on US-China trade talks.
- XRP bounced over 11% after Ripple's acquisition of Hidden Road, with CEO Brad Garlinghouse emphasizing XRP's central role in the company's strategy.
- The Federal Reserve is expected to cut interest rates, boosting confidence in the crypto market as institutional adoption accelerates.
- Kyrgyzstan launched a stablecoin on the BNB Chain, highlighting ongoing global crypto adoption and political engagement.
Bitcoin BTC/USD climbed nearly 3% to challenge $114,000 resistance as US Treasury Secretary Scott Bessent signaled substantial progress on a US-China trade framework, while XRP XRP/USD bounced over 11% in the past week following Ripple’s acquisition of Hidden Road and CEO Brad Garlinghouse’s emphasis that XRP “sits at the center of everything” the company does. Federal Reserve rate cut odds exceeded 98% for the upcoming October 29 meeting, fueling optimism across crypto markets as institutional adoption accelerates.
Crypto Market Developments
After a few important events, investor attitude in the crypto market changed to a clear bullish tone. Scott Bessent, the U.S. Treasury Secretary, said that the U.S. and China had reached a “very substantial framework” deal. This means that the promised 100% more tariffs will probably not happen. This news made people more willing to take risks. Traditional markets and cryptocurrencies both went up in value as traders hoped for an end to the trade war and a market rise to new all-time highs.
The U.S. Federal Reserve’s highly expected move is also making people more confident in the market. The Fed is projected to lower interest rates by 0.25% at its next meeting because inflation data came in lower than predicted. The odds of this happening are above 98%. Over the past six months, $82%$ of the world’s central banks have eased their monetary policies. This makes riskier assets like crypto more appealing because it makes them easier to buy and sell and lowers the yield on safer investments.
In addition, Changpeng “CZ” Zhao, the former CEO of Binance, got a presidential pardon after spending a lot of money on lobbying. Kyrgyzstan also launched a stablecoin (KGST) on the BNB Chain, confirming plans for a Central Bank Digital Currency (CBDC) with Zhao’s strategic advice, showcasing ongoing global crypto adoption and political engagement.
Bitcoin Testing $115,000 Resistance on Monday
Bitcoin (BTC) showed significant positive momentum as the week came to a conclusion, breaking above barrier levels of $114,000 with further volatility. After Treasury Secretary Bessent talked on US-China trade talks, the leading cryptocurrency rose 3.2% because traders saw the possible framework deal as getting rid of a key source of market uncertainty. Cointelegraph Markets Pro data showed that Bitcoin broke out of its weekend range-bound trading pattern. After Friday’s comeback, bulls were able to set a higher support level.
Technical analysts found several price targets for Bitcoin’s rise to continue. Trader Crypto Caesar said that a clean break and closure above $112,000 could mean that the market will continue to rise toward $123,000. Crypto investor Ted Pillows said that four green daily candles in a row show that purchasing pressure is still strong. Pillows thought that getting back into the $112,000-$114,000 range may quickly propel Bitcoin above $118,000. Frank Fetter, an analytics account, said that if Bitcoin could go back to the short-term holder cost basis at $113,000, a move into the $130,000–$144,000 region “feels right.” This range is the total cost basis for people who have held Bitcoin for up to six months.
XRP Price Prediction: $3.45 Next Target?
XRP (XRP) showed strong technical strength by bouncing back more than 8% after hitting important support at the lower trendline of its ascending triangle pattern near $2.33, which is where the 50-week exponential moving average is located. This support level has typically come before strong rebounds, such the 70–80% rallies earlier in 2025. Analysts think there might be a 35% breakout into the triangle’s top trendline at about $3.45 by December. The technical structure makes for a very interesting risk-reward situation, but if prices break below the triangle’s lower limit, they might drop to about $1.65 in June, which would be a 25% drop from where they are now.
Fundamental changes made XRP’s bullish case much stronger. Ripple announced that it had completed the purchase of Hidden Road and rebranded it as “Ripple Prime.” This made Ripple the first crypto business to run a global, multi-asset prime broker. Brad Garlinghouse, the CEO, said that XRP is “at the center of everything Ripple does.” He also said that the acquisition is another step toward developing a “internet of value.” The company also said it plans to buy $1 billion worth of XRP tokens for a new treasury on Nasdaq, which would be traded under the “XRPN” ticker. Analysts like Credibull Crypto said that Ripple’s large XRP holdings give them strong reasons to make the token successful. Trader Zeiierman Trading said that XRP is “now positioned at the center of institutional adoption” after the Hidden Road deal, which supports price targets above $3.
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