Ethereum News Daily Official TheBitTimes.com

In the midst of recent cryptocurrency market turbulence and sell-offs, XRP Ledger (XRP), backed by Ripple Labs, is pushing to regain bullish momentum.  On-chain analytics platform Santiment has highlighted a factor that could contribute to further price increases for XRP. Despite recent declines in the crypto market, heavy shorting activity against XRP might paradoxically serve as “rocket fuel” for a price rise. Santiment revealed that XRP, along with Cardano (ADA), is among the most heavily shorted altcoins following their relief bounces. This heavy shorting is seen as a positive sign for patient bulls. The liquidation of these short positions could provide the necessary momentum for XRP to rise higher. Picks for you Bitcoin price prediction as $800 billion banking giant enters BTC spot trading 57...

1. Powell: Unemployment Rate Must Rise by Over 0.2% to Prompt Fed Interest Rate Cut link The Federal Re serve has acknowledged recent setbacks in combating inflation but indicated a higher likelihood of maintaining interest rates at current levels for a longer period rather than raising them again. Officials on Wednesday kept the benchmark rate stable between 5.25% and 5.5%. Federal Re serve Chair Jerome Powell suggested that unexpected weakness in the labor market could prompt the Fed to cut rates. How weak does the job market need to be? Powell believes the unemployment rate (currently at 3.8%) must rise by more than 0.2 percentage points for the central bank to shift focus away from inflation. Powell still anticipates a decline in inflation largely due to housing deflation. Currently, the threshold for a Fed rate cut is high, but the threshold for resuming rate hikes is even higher. CNN reports that there is currently uncertainty about when the Fed will cut rates, with different i...