The International Monetary Fund (IMF) has suggested that El Salvador refrain from further Bitcoin purchases. This statement could significantly impact the cryptocurrency market. We explore the prospects for major cryptocurrencies like XRP, AVAX, DOGE, and FLOKI.
IMF Recommendation and Its Impact
The IMF recommended that El Salvador refrain from acquiring more Bitcoin, which is currently priced at $85,690. Supported comments from the Federal Reserve bolstered market sentiments, suggesting a potential upward trajectory for cryptocurrencies in the near future.
XRP and AVAX Prospects
Ripple’s CEO announced that the appeal process with the SEC is nearing completion, paving the way for official actions. Consequently, XRP’s price surged by 10%, challenging the classification of altcoins as mere investment contracts.
Future of DOGE and FLOKI
As DOGE stabilizes at the $0.15 support level, recent SEC communications about meme coins not being classified as securities could influence future valuations. FLOKI Coin is near critical support, with potential to rise to $0.0001142.
The developments in the cryptocurrency realm indicate its resilience. Key levels for XRP, AVAX, DOGE, and FLOKI are worth monitoring, as they may offer trading opportunities in the coming days.
