3 Events That Could Move Bitcoin and XRP Price This Week

Bitcoin (BTC) price is up by 0.64% today, August 10, while Ripple (XRP) price is down by 0.11%. The mixed outlook comes ahead of three economic and political events that are happening this week that could cause a surge in volatility.

Aside from Bitcoin and XRP, Ethereum (ETH) price is up by 0.44% to trade at $1,924, while Solana (SOL) has sustained its weekend gains to trade at $76 at the time of writing.

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Bitcoin and XRP Face a Volatile Week Ahead of CPI Data

The US inflation data for the month of July 2026 comes out on August 12. MarketWatch shows that analysts expect the level of inflation to drop from 3.5% in June 2026 to 3.4% in July 2026.

If the CPI print matches these expectations and drops month-over-month, it will reinforce the odds of the Federal Reserve leaving interest rates unchanged at the September FOMC meeting on Fed interest rates prediction markets, and this could drive gains for Bitcoin and XRP price.

A previous report by CoinGape revealed that the possibility of the Fed hiking rates started to drop last week after US nonfarm payrolls dropped by 23,000, suggesting that the job market is weakening.

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Two Fed Governors Will Give Speeches This Week

Data from MarketWatch also shows that the President of the Federal Reserve Bank of Cleveland, Beth Hammack, will give a speech on August 13. On the same date, the president of the Fed Bank of Richmond, Thomas Barkin, will also speak to the Greenville Chamber of Commerce.

The two speeches will likely affect the odds of the Fed hiking interest rates in September. The Fed presidents could also discuss the CPI data that will come out a day before their speeches on August 12.

US-Iran Conflict in Focus

The US-Iran conflict will also likely move BTC and XRP price this week as President Trump says that the US is considering exerting economic pressure on Iran and abandoning the previous strategy of using military pressure.

An earlier report by CoinGape noted that President Trump says that the Strait of Hormuz will be reopening “very soon,” with this set to alleviate inflation pressure caused by rising oil prices and fuel an increase in the price of Bitcoin and Ethereum.

Bitcoin Price Prediction This Week as Bulls Target $72,000

Bitcoin price is up by 0.62% today, August 10, to trade at $65,244 at the time of writing. Data from CryptoQuant now suggests that the price could reach $72,000 if buying pressure continues to rise even as the traders who purchased in the last one to three months make profits.

The data shows that the realized price of the traders who purchased between May and August 2026 is at $67,000. If Bitcoin continues with the current gains, it might face an obstacle at $67,000 if the traders who purchased here decide to take profits.

But if BTC can close above this resistance at $67,000, the price could reach $72,000, which is the price at which the traders who have held Bitcoin since March 2026 will become profitable.

CryptoQuant analyst Shayan Markets says a move to $72,000 will suggest that buyers are absorbing sold coins, and this could support a bullish long-term Bitcoin price forecast.

XRP Price Outlook as Whales Scoop 380 million Coins

Analyst Ali Charts on X notes that XRP whales have purchased 380 million coins within one week despite uncertainty that the CLARITY Act bill will pass in 2026.

The analyst says that this buying behaviour suggests that whales remain convinced that XRP price could continue to gain even as it nears the resistance at $1.06.

Still, the RSI reading of 39 on the one-day chart suggests that the momentum is still favoring bears. If buyers come back and push this RSI reading above $50, the price of XRP could move above the resistance of $1.06 and target the 50-day EMA of $1.10.

Closing above the 50-day EMA of $1.10 for three straight days could then push the price of XRP to the 200-day EMA of $1.18.

Find out the other events that traders are watching on prediction markets that could also move crypto prices this week.