Crypto Prices Today: BTC, XRP, DOGE Recover As White House Dismisses Recession Talks Amid Weakening Dollar
Highlights
- Crypto prices are gaining today after the White House pushed back on recession concerns saying the US economy was still on a bullish path.
- If the US dollar continues to weaken, it could bode well for crypto prices due to rising demand for digital assets.
- Bitcoin, XRP and DOGE prices have rebounded in the last 24 hours.
Crypto prices today show a notable recovery, with Bitcoin, XRP, and Dogecoin rebounding amid shifting macroeconomic conditions. The White House has dismissed concerns about a looming recession, and the weakening US dollar is driving optimism towards risk assets. As crypto traders react to these developments, is a stronger rally on the horizon?
Crypto Prices Rebound Today As White House Downplays Recession Amid Weak Dollar
The concerns of an economic recession in the US drove Bitcoin price to $76,000 yesterday. However, crypto prices are up today, with Bitcoin recovering to $81,000. Meanwhile, XRP and Dogecoin had also rebounded after the White House pushed back against recession talks.
While speaking to CNBC, the National Economic Council Director, Kevin Hassett, shut down recession rumors. He noted that the US economy was still on a positive trajectory despite the likelihood of Q1 2025 data not being positive.
Hassett’s remarks come after experts hiked their recession odds, JPMorgan increased the odds of a US economic recession from 30% to 40% while Goldman Sachs analysts raised their probability from 10% to 15%.
Trump’s tariff hikes have been blamed for slowed economic growth. These policies have also weakened the performance of the US dollar against major currencies. The US dollar index has fallen to 103, its lowest level since November 2024.
A weak greenback is good for risk assets like cryptocurrencies. As the dollar weakens, crypto prices are rising today due to speculation that capital inflows will surge.
Bitcoin Price Analysis – Can BTC Recover to $90K?
Bitcoin price trades at $82,480 today after a marginal 1.1% gain in 24 hours. BTC price brushed $83,000 today and is on the way to making a significant price rally after forming an ascending triangle pattern, which often precedes a trend reversal from bearish to bullish.
Popular analyst Ali Charts notes that if Bitcoin continues to gain and breaches the upper trendline of this ascending channel, it could stir an 8% price rally toward $89,000. If BTC hits this level and market sentiment remains positive, it highlights a bullish Bitcoin price prediction and possible gains past $90,000.
XRP Price Confirms a Bullish Reversal
XRP is among the top gainers as crypto prices rebound today amid speculation of a BlackRock XRP ETF application. XRP price today hovers around $2.19 with a 2.5% rise in 24 hours. Ripple has broken above the upper trendline of a falling wedge pattern confirming a bullish reversal.
The RSI is at 52, signaling neutral conditions, with buyers having a slightly upper hand. The On-Balance Volume also remains stable at high levels, hinting at steady participation from traders. If the XRP price confirms a decisive breakout above the upper trendline, the next targets are the 50% and 100% Fibonacci levels of $2.61 and $3, respectively.
Dogecoin Price Analysis
Dogecoin price has gained by 4.6% today to trade at $0.168 despite the SEC’s DOGE ETF delay. Meanwhile, the short-term holder NUPL suggests that DOGE price may have reached a local bottom.
This metric has declined significantly aligning with the recent downtrend, suggesting that short-term holders are heavily underwater. If history repeats, this drop could precede a capitulation or a reversal opportunity.
Final Thoughts on Crypto Prices Today
Crypto prices are bullish today with the weakening US dollar and White House remarks on recession providing tailwinds for Bitcoin, XRP, and Dogecoin prices. If risk assets see a continued rise in demand, it could fuel significant price gains.
Frequently Asked Questions (FAQs)
1. Why are crypto prices gaining today?
2. What did the White House say about economic recession?
3. Why is the US dollar dropping?
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