XRP gains momentum


  • LEuropean stock exchangescatch their breath
  • Wall Street reassured by the health situation
  • Graph of the day – XRP/USD : a long-term bullish slant

European stock markets are catching their breath

European stock exchanges are rising slightly on Thursday but the momentum given to equities in recent days by generally reassuring information on the Omicron variant of the coronavirus seems to be running out of steam as the publication of US inflation figures and meetings of the main banks approaches powerhouses of the world.

The stock market rebound at the start of the week, favored by reassuring statements on the effects of the Omicron variant and then on Wednesday by the announcements of Pfizer and BioNTech on the effectiveness of their vaccine against the same Omicron, allowed the main indices to return to close to records set last month.

But the economy now seems to take priority over the health situation in the eyes of investors. They await Friday the monthly consumer price figures in the United States, and especially, next week, the decisions of the Federal Reserve, the European Central Bank, the Bank of England and the Bank of Japan. .

According to a new Reuters survey, the Fed is expected to begin raising interest rates in the third quarter of next year, so earlier than expected last month, and a large majority of respondents do not exclude that this turning point comes even earlier.

The market will monitor in particular at 2:30 p.m. the weekly statistics of applications for unemployment benefits in the United States.

Wall Street reassured by the health situation

Wall Street ended up slightly on Wednesday, as investors welcomed reassuring information on the effectiveness of COVID-19 vaccines against the new Omicron variant, even though uncertainties remain over the evolution of the health situation.

Pfizer and BioNTech said today that their full vaccination schedule, with third dose, was able to neutralize the Omicron variant of the coronavirus, according to clinical trials.

While travel sector headlines rebounded after this announcement, many investors remain concerned about new health restrictions that may be in place across the world to prevent the spread of the Omicron variant of the coronavirus.

As a result, the Dow Jones gained 0.10% to 35,754.75 points. The Nasdaq advanced 0.64% and the S&P 500 gained 0.31%.

Othersupdates on financial market news

The oil market continues to rebound thanks to the news of the last few days on the Omicron variant. Brent has already erased half of the 16% drop experienced between November 25 and December 1.

Today’s economic calendar:

Find the entire economic calendar to know all the economic events to comer.

CHART OF THE DAY – XRP / USD: a long-term bullish slant

Stock market: pending indicators - Ripple: XRP is gaining ground

XRP has been picking up again for a few sessions, the cryptocurrency has come to build on its long-term bullish slant. Thus, the level of $ 0.76 is a key pivot to defend for buyers. An incursion below this threshold would not bode well and would risk weakening the underlying bullish momentum.

At the same time, prices are moving in a bearish channel, so the lower bound reinforces the support level at $ 0.76. However, the market will need to break through the resistance at $ 0.9240 in order to accelerate its rise. The next technical targets are at $ 1.0518 and then $ 1.1800.

Finally Ripple is still fighting a heavy fight in his trial vs the SEC, mbut the year 2022 could be saving for XRP with the outcome final from this case.

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