This week is filled with significant events that could influence cryptocurrency prices, ranging from key economic data releases to major technology earnings. Below is a rundown of what’s ahead and what analysts are focusing on for Bitcoin, Ethereum, and XRP.
This Week’s Highlights
Market reactions are ongoing following Trump’s decision to cancel proposed airstrikes on Iran. In addition to that, several important economic reports are set to be released:
- Monday: ISM Manufacturing PMI data for July
- Tuesday: Job openings data (JOLTS) for June, along with earnings reports from AMD and SpaceX
- Wednesday: ADP Nonfarm Employment Change for July, plus earnings from SanDisk
- Friday: The July jobs report, which is expected to be a major catalyst for the markets, including crypto
Additionally, around 20% of companies in the S&P 500 will be reporting earnings this week, further enhancing the likelihood of market volatility, including in cryptocurrency.
Current Bitcoin Position
Bitcoin concluded July at $62,818, which represents a decline of over 49% from its peak in October. One analyst noted several crucial indicators: the 200-week moving average is around $63,000, the realized price is approximately $52,000 and continues to drop, while the monthly RSI is sitting at 43, below the neutral 50 mark.
This analysis suggests that Bitcoin could be entering a phase of stabilization, which historically lasts between one and three months, often experiencing a dip below the realized price before reaching a genuine low.
A different analysis compared the current market cycle to the previous three. By evaluating the number of days since Bitcoin’s peak in October 2025, the historical median trajectory would suggest Bitcoin should currently be around $45,347.
In reality, Bitcoin is trading about 39% above this historical figure, indicating that this cycle has performed considerably better compared to previous ones, though it does not imply that the downturn is over.
XRP: Key Resistance Level
XRP needs to maintain the $1.06 support level and successfully reclaim $1.16 to change its current trend, as per chart analysts observing the token. Each recovery rally since XRP’s high of about $2.40 in January has been restricted by a recurring resistance pattern, with $1.16 being crucial for any potential shift.
Currently, the price is confined between the 20-day and 50-day moving averages, roughly between $1.08 and $1.12. Analysts believe this narrow trading range is building momentum for a significant move, though it’s unclear in which direction.
Ethereum’s Stability May Signal Future Movement
Ethereum has been trading within a range of approximately $1,860 to $1,955 for several weeks. One analyst believes Ethereum may eventually reach higher levels following a deeper pullback, but this would require a specific sequence: a rally into the $1,900 to $2,000 resistance zone, followed by a phase of distribution, then a substantial decline toward the $900 to $1,400 range before initiating a new bullish cycle.
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