XRP is moving sideways with market participants undecided on where to go next. XRP Price Predictions to Watch This Week Key Support levels: $2, $1.6 Key Resistance levels: $2.3, $2.6, $3 1. Buyers Hesitate In the past few weeks, XRP failed to move away from the key support at $2 and is found around $2.17 [\u2026]<\/p>\n
The US central bank will announce its interest rate decision this week, and it is highly expected that things will remain the same.<\/p>\n
Optimism picked up a little last week as stock and crypto markets made gains as tariff concerns eased slightly.<\/p>\n
However, the unexpected Q1 GDP contraction<\/a> shook market sentiment. This appears to be the result of companies front-loading orders ahead of anticipated tariffs.<\/p>\n It was also reported that President Trump has no plans to speak with China\u2019s President Xi this week. In a potential escalation of trade tensions, Trump said that Beijing is \u201cripping us off\u201d and Chinese and US officials are talking about \u201cdifferent things.\u201d<\/p>\n Consumer sentiment also fell in April for the fourth month in a row. It is now back to levels not seen since the pandemic era, as households brace for further price hikes.<\/p>\n On Monday, April\u2019s ISM Services PMI (purchasing manager\u2019s index) report will be released, reflecting business conditions in the US services sector. This key leading indicator helps analysts anticipate shifts in economic momentum.<\/p>\n April\u2019s S&P Global Services PMI is also due on Monday and offers an alternative perspective on the services sector by including a wider spectrum of private-sector firms.<\/p>\n A Consumer Credit Change report is due Wednesday, measuring monthly changes in how much consumers are borrowing to finance spending on goods and services.<\/p>\n The Federal Reserve will make its decision on interest rates on Wednesday, May 7, and the CME Fed Watch tool shows<\/a> a 96% probability of rates remaining unchanged at 4.25% to 4.5%.<\/p>\n \u201cWe expect Powell to push back against market pricing and signal a renewed priority on price stability,\u201d said<\/a> Bloomberg analysts. Traders are now expecting 80 basis points of rate cuts this year starting in July, reported<\/a> Reuters.<\/p>\n Key Events This Week:<\/p>\n 1. S&P Global Services PMI data – Monday<\/p>\n 2. ISM Non-Manufacturing PMI data – Monday<\/p>\n 3. Fed Interest Rate Decision – Wednesday<\/p>\n 4. Fed Press Conference – Wednesday<\/p>\n 5. Initial Jobless Claims data – Thursday<\/p>\n 6. ~20% of S&P 500 companies report earnings\u2026<\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) May 4, 2025<\/a><\/p>\n<\/blockquote>\nEconomic Events May 5 to 9<\/h2>\n
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