7 Key Events That Could Move Bitcoin and XRP Price This Coming Week
Bitcoin and XRP price action is set for a volatile week. Inflation data lands Wednesday and Thursday, and a key crypto regulation vote could add fuel to the move. Traders on both coins are watching tight ranges that look ready to break.
What is driving the market this week?
The macro calendar is packed. US markets opened Monday following Iran deal rumours tied to the Strait of Hormuz.
Tuesday brings home sales data and a $5.1 billion cash injection from the Fed. Wednesday delivers US CPI and Core CPI. Thursday follows with US PPI, Core PPI, and Japan PPI. Friday closes the week with Michigan consumer sentiment and a Japan 3-month bill auction.
Inflation is the main event. Three Fed officials already voted for a hike at the last meeting, the first time three dissented in the same direction since 2016.
Friday's jobs report came in negative and cooled that case fast. This week's inflation print should settle the debate over a September rate hike.
7 Events That Could Move Bitcoin and XRP Price This Week
1. Iran deal rumours (Monday): US markets opened the week reacting to rumours around a possible Iran deal tied to the Strait of Hormuz. Any shift here can nudge risk sentiment across markets, including crypto.
2. US home sales data (Tuesday): A read on housing demand often works as a proxy for the broader economy. Weak numbers can support rate cut hopes, which tends to help Bitcoin and XRP prices.
3. Fed $5.1 billion cash injection (Tuesday): The Fed added $5.1 billion in liquidity this week. More liquidity in the system has historically been a tailwind for risk assets like crypto.
4. US CPI and Core CPI (Wednesday): This is the big one. A hot CPI print keeps a September rate hike on the table, which could pressure Bitcoin and XRP prices lower.
5. US PPI, Core PPI and Japan PPI (Thursday): Producer prices show cost pressure before it reaches consumers. A hot PPI print alongside CPI would strengthen the case for tighter policy.
6. Michigan consumer sentiment (Friday): This gauge shows how confident US households feel about spending and the economy. Weak sentiment can add to rate cut bets late in the week.
7. Japan 3-month bill auction (Friday): This auction offers a read on short-term demand for Japanese debt. It matters less directly for crypto but can still move broader risk appetite.
What is the Bitcoin price prediction this week?
Bitcoin is stuck in a tight range, roughly between $64,600 and $65,900. Volume in the middle of that band is thin, so a breakout could move fast in either direction.
A daily close above $65,900 could trigger short liquidations and send Bitcoin toward $74,000. A drop below $64,600 opens the door to lower support, with $60,000 the next major level to watch.
Longer-term holders often track the 300-week moving average, sitting near $55,000, as a reference point during deeper pullbacks.
Demand has not fully dried up either. Spot Bitcoin ETFs pulled in $98.85 million in net inflows on August 7, a sign buyers are still showing up even in a quiet range.
What is the XRP price prediction this week?
XRP price stays closely tied to regulatory headlines, and that makes this week's votes and rulings especially relevant for the token.
Holding above $1.00 keeps the recovery case alive for XRP. A daily close above $1.10 puts $1.18 in view, with $1.30 as a further target if momentum builds from there.
Losing the $1.00 level on a daily close flips the setup bearish. In that scenario, $0.90 and then $0.82 come into focus, with $0.80 and $0.62 as deeper reference points further out.
Bitcoin, Ethereum and XRP price scenarios at a glance
Scenario | Bitcoin | Ethereum | XRP |
Bullish break | Above $65,900, then $74,000 | Above $1,925, then $2,000 | Above $1.10, then $1.18–$1.30 |
Range holds / vote delayed | Range between $60,000–$65,000 | Range between $1,850–$1,925 | $1.00–$1.05 stays key |
Bearish break | Below $60,000, then $50,000 | Below $1,850, then $1,700–$1,500 | Below $1.00, then $0.90–$0.82 |
Why does this week matter for crypto traders?
Inflation prints this week carry more weight than usual. A hot CPI print could put a September rate hike back on the table, which tends to pressure risk assets like Bitcoin and XRP.
A cooler print would likely take that hike off the table, which has historically supported crypto prices. Either way, Wednesday and Thursday look like the days that set the tone for the rest of the month.
Regulatory headlines add another layer. XRP in particular tends to swing hard on any news tied to crypto market structure legislation, so traders should expect sharp moves around any related updates.
Bottom line
Bitcoin and XRP prices are both sitting at levels that could break either way this week. $65,900 is the line for Bitcoin bulls, and $1.00 is the line for XRP.
Inflation data on Wednesday and Thursday will likely decide which direction wins out. Traders should watch volume closely, since thin liquidity in these ranges could make any breakout move faster than usual.
Disclaimer
This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets are highly volatile and carry significant risk, including the possible loss of principal. Price levels discussed are speculative and not guaranteed outcomes. Always do your own research before making investment decisions.
