is finally live, but the market remains anemic because of the last CPI release that caused turmoil among investors. One way or another, the majority of investors on the cryptocurrency market do not seem to care about the fundamental update that much as the volatility is still in the lower part of the range., Cardano and Dogecoin, have been taking serious hits.
XRP has dropped below the crucial support level for the second time this month, making the possibility of a price reversal questionable, especially with current market conditions. In order to remain afloat, XRP should gain around 4% of its value back and return above the aforementioned support level, or we will see a further plunge down.
Unfortunately, the asset has neither gained nor lost trading volume after the Ethereum Merge update, which shows that the majority of market participants are not interested in high-risk assets like DOGE.With only 16.5 Gwei per transaction, Ethereum will remain deflationary as the total issuance of the cryptocurrency is already at -200 ETH after only 30 minutes of Merge being live.
The tiny 0.4% price increase of Ether amid the biggest update in the network's history is another confirmation of the aforementioned thesis. The cryptocurrency will most likely see no recovery until the Federal Reserve and other financial regulators across the world keep the market under control by constantly hiking the key rate, which affects the behavior of institutional and retail investors.
Excellent. Buy opportunity
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