Just caught this interesting technical setup on XRP. So the price touched $1.11 last week and now we're back at $1.38, which is making some analysts talk about a double bottom pattern forming around the $1 level. One trader I follow, Zach Rector, is pretty convinced that XRP could revisit that $1 zone one more time before things turn around. What caught my attention is that he's not waiting for an exact bottom—he's already placing buys slightly above $1 because of how often price bounces just before hitting those psychological levels. He's expecting a retest somewhere between $1.20 and $0.90, but disagrees with the doom predictions about $0.50 or lower. Says the double bottom pattern makes more sense given current conditions. The wild part? He's projecting a $7 target based on a potential 500-600% move from $1, comparing it to silver's historic breakout. With XRP sitting about 70% below its all-time high of $3.65, there's definitely some conviction here. Older holders are apparently stacking at these levels too, seeing it as a major buying opportunity. Price is at $1.38 right now with a slight dip today, so we'll see if that $1 level actually holds as support or if the double bottom pattern plays out.

Crypto Market Reduces Holdings by $40 Billion Ahead of Powell's Final FOMC Decision Tuesday, crypto prices retreated as traders cut positions ahead of Federal Reserve Chair Jerome Powell's last Federal Open Market Committee (FOMC) meeting. CME Group's FedWatch tool shows a 100% probability that interest rates will remain at 3.50% to 3.75% on April 29, making Powell's press conference the main focus for risk assets. As the trend of risk reduction becomes apparent, the crypto market experienced a pullback. Bitcoin (BTC) fell below $76,000, with the overall market cap dropping 1.8% to $2.62 trillion, losing nearly $40 billion in the past 24 hours. This correction aligns with the pattern of Bitcoin and altcoins declining within 24 hours before each Federal Reserve decision. Ethereum (ETH) dropped nearly 2%, XRP declined 2.2%, and BNB fell 0.7%, according to CoinGecko data. This tide of decline coincides with reductions in leverage perpetual contracts and increased inflows into exchanges, both common signs of risk aversion ahead of macro events. "Almost 10k BTC flooded into exchanges in a single day, with whale inflows accounting for over 70% of deposits. Honestly, this isn't random activity; it's large sums intentionally moving," an analyst observed. Headline inflation approaches 3.3% to 3.5%, pressured by oil prices driven by conflicts in Iran and the Middle East, weakening the case for short-term rate cuts and reinforcing hawkish expectations in CME Group data. "It feels like we've de-risked somewhat before tomorrow. The real move Bitcoin wants to make will happen later this week," one user noted. Powell's Final Meeting Shifts Focus to Tone This is widely seen as Powell's last appearance as Federal Reserve Chair, with Kevin Waugh set to succeed him in mid-May. CME data continues to reflect hawkish expectations, with a 100% probability that tomorrow's FOMC rate decision will remain unchanged. "Focus shifts to tomorrow's FOMC meeting. Rates may stay steady, so all eyes will be on Powell's message. With inflation pressures and unresolved energy and global tensions, balancing price stability and growth becomes more complex," said Federico, an executive at Phemex. Treasury yields rose slightly, with the 10-year approaching 4.33% to 4.36%, while the dollar remained strong amid safe-haven inflows. Volatility is expected to surge during Powell's press conference in the afternoon. The next 24 hours may reveal whether Powell hints at an openness to future rate cuts or continues to emphasize vigilance on inflation, a tone that has historically shaped subsequent moves in cryptocurrencies.

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