Bitcoin's Seasonal Weakness May Not Extend to XRP in September

The month of September has historically been challenging for Bitcoin, but XRP's record shows it may not be as vulnerable. While Bitcoin gained about 25% in August and is now facing resistance between $80,000 and $82,000, XRP has had seven positive Septembers with an average gain of near 13.8%. The bullish case for Bitcoin requires support above $77,300 and a close beyond $82,000 to reopen the $88,000, $90,000 region.

The bearish case for Bitcoin starts with a break below $74,000, which could expose $73,500, while heavier selling could bring $70,000 into view. For XRP, a close below $1.30 could open at $1.27 and then $1.20. The article notes that XRP is more negatively affected by increases in yields than the dollar, as well as by the decreasing trend of investors moving away from cryptocurrencies.

The Federal Reserve meets on September 15-16 after Chair Kevin Warsh warned that inflation stayed above target. The 10-year Treasury yield recently reached 4.82%, while the dollar held near a two-week high. Higher yields and a firmer dollar can reduce demand for volatile assets, which could negatively impact XRP.