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On November 14th, Musk posted that X has launched a brand new suite of communication features, including encrypted messaging, audio/video calls, and file transfer. X Money (electronic payment service) will be launched soon. X will become an all-in-one application.Japanese Finance Minister Satsuki Katayama: (When asked about the size of the economic stimulus package) The planned economic stimulus measures will be in line with the proactive fiscal policy of the Sanae Takaichi government.Japanese Economy and Fiscal Policy Minister Minoru Shirou: A weaker yen will push up the CPI through increased import costs.On November 14th, analyst Tracy Alloway stated that while the price of imported bananas in the US has actually been declining since the middle of last year, banana inflation remained high at 6.9% as of the end of September. Even with lower production costs, companies may not necessarily pass on cost savings to consumers, and there are currently no signs that most companies feel pressured to do so. Data shows that profit margins for S&P 500 companies actually expanded in the most recent quarter, triggering a significant secondary effect: higher profit margins boosted stock prices, creating a wealth effect where wealthier consumers could freely purchase expensive bananas, further increasing consumer spending. At the same time, companies are more inclined to maintain high-price strategies, which harms the interests of low-income families. Simply eliminating tariffs may not satisfy ordinary consumers worried about prices. If you expect immediate results from eliminating banana tariffs, you may be disappointed.According to Futures News on November 14, the holdings of the worlds largest gold ETF, SPDR Gold Trust, increased by 2.29 tons from the previous day, and the current holdings are 1048.93 tons.

XRP Bears Target a Return to Sub-$0.38 on Binance and US CPI Jitters

Cory Russell

Dec 13, 2022 15:38

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XRP was back in the red this morning after a NASDAQ Index-driven recovery on Monday as investors awaited information on Binance ahead of the CPI Report.


XRP increased on Monday by 1.44%. XRP finished the day at $0.3868, reversing a loss of 1.35% from the previous day. For the third session in a row, the price of XRP was below $0.39.


XRP experienced a negative start to the day, dropping to an early morning low of $0.3711. At $0.3768 and $0.3724, respectively, the First Major Support Level (S1) and Second Major Support Level (S2) were breached by XRP. However, XRP increased to a late high of $0.38967 after receiving support from a wider market. Before falling back to close the day at less than $0.3870, XRP broke through the First Major Resistance Level (R1) at $0.3872.

A bullish XRP session is delivered by Binance and the NASDAQ Index

Investors were not diverted from the cryptocurrency news wires by updates in the SEC v. Ripple lawsuit, which is still pending.


Investor mood was affected by reports of anomalous behavior on the Binance exchange and a Reuters report that US authorities planned to press charges for financial offences.


Prior to today's US CPI Report, the NASDAQ Index provided much-needed support. Through the afternoon session, demand for riskier assets was driven by expectations of lower inflation numbers and a Fed shift.


The US CPI Report and the NASDAQ Index will serve as today's primary sources of guidance because the SEC v. Ripple case has not yet produced any new developments. Investor concerns following Monday's optimism may put buyer interest to the test before today's data.