Bitcoin and XRP Bracing for Data-Heavy Week Amid US Economic Releases

The upcoming week is expected to be a data-heavy one for Bitcoin and XRP as several key US economic events take place, which could influence expectations for Federal Reserve policy. The releases arrive at a time when employment data carries greater weight ahead of the next Federal Open Market Committee meeting. Bitcoin remains below resistance near $80,000-$82,000, while XRP tests an important support range around $1.30, $1.40.

The week starts with the August Chicago PMI on Monday, followed by a crowded Tuesday calendar. The August ISM Manufacturing PMI is expected to ease to 55.3 from 55.6 in July, while remaining above the 50 level separating expansion from contraction. The combination will give traders separate readings on factory activity and input-price pressures.

Tuesday also brings July JOLTS (Job Openings and Labor Turnover Survey) job openings, with analysts expecting openings to fall to about 7.273 million from 7.359 million. Attention then moves to Wednesday’s August ADP nonfarm employment report, adding another labor-market reading before Thursday’s weekly unemployment claims.

Thursday's August ISM Services PMI and Prices report closes the major calendar. Consensus expects the headline PMI near 53.8, compared with 54.1 in July. The releases arrive with Bitcoin trading between support around $73,000-$75,000 and resistance near $80,000-$82,000.