Bitcoin and XRP Prepare for Economic Data Bombshell Ahead of Fed Meeting

A data-heavy week is ahead for Bitcoin and XRP as several US economic events loom, potentially influencing expectations for Federal Reserve policy. The release of employment data takes on greater significance before the next Federal Open Market Committee meeting.

The week starts with the August Chicago PMI, followed by a crowded Tuesday calendar. Analysts expect the August ISM Manufacturing PMI to ease to 55.3 from 55.6 in July, while remaining above the 50 level separating expansion from contraction.

A stronger manufacturing reading alongside higher prices would show continued economic strength and high cost pressures, while weaker activity or lower prices would provide a different signal ahead of the Federal Reserve meeting.