The earnings reports from Microsoft and Meta have sparked positive sentiment in the financial market and are uplifting expectations for cryptocurrencies.
Cryptocurrency Market After Microsoft and Meta Reports
Yesterday, the earnings reports of Microsoft and Meta were impressive, leading to positive market expectations and an optimistic trading opening. Notably, Microsoft surpassed the four trillion-dollar market capitalization threshold. Meanwhile, Bitcoin (BTC) currently trades at 118,300 dollars and altcoins show signs of recovery.
XRP Analysis: Prospects and Current Situation
XRP, one of the largest cryptocurrencies by market capitalization, has reclaimed the 3.1 dollar support level and is currently stabilizing. Upcoming earnings reports from Apple and Amazon are anticipated, and if they mirror Microsoft’s strong performance, it may indicate a promising second quarter despite tariffs. Prominent cryptocurrency analyst Ali Martinez recently shared a chart indicating a double bottom formation, stating that a close above 3.3 dollars would confirm a breakout. If this double bottom formation materializes, it might open the door to 3.6 dollars.
SOL Status: Issues and Predictions
SOL Coin has yet to regain the critical 179 dollar level, and current news suggests that BTC must move towards at least 115,000 dollars. This might be contributing to bulls holding back. In DaanCrypto's recent analysis, he mentioned that SOL is still struggling at the 180 dollar level. In the short term, this is quite critical, and the strength of coins like ETH and SOL is essential for the overall altcoin outlook.
The earnings of major tech companies significantly impact market sentiment, which in turn reflects on cryptocurrency predictions. XRP continues to show growth, while SOL faces challenges.
