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Cosmos (ATOM) Price Analysis
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Bitcoin Recovers — Is The Storm Over?
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#XRP Drops Below $0.57 in Market Rout On Friday, August 2, XRP slid by 6.13%. Following a 4.20% loss on Thursday, August 1, XRP ended the session at $0.5604. Significantly, XRP extended its losing streak to three sessions as the broader crypto market fell by 5.93% to a total market cap of $2.148 trillion. US Labor Market Data Triggers Recession Fears On Friday, August 2, the US Jobs Report intensified investor fears of a hard US landing, fueling a flight to safety. The US unemployment rate unexpectedly jumped from 4.1% in June to 4.3% in July, the highest since October 2021. Deteriorating labor market conditions impacted wage growth, which increased by 3.6% year-on-year in July, down from 3.9% in June. Weaker wage growth could reduce disposable income, curbing consumer spending. A pullback in consumer spending, with private consumption contributing over 60% to the US economy, may trigger a recession. XRP saw heavy losses despite investor hopes of an SEC vs. Ripple settlement. #BinanceTurns7
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#SAGA SAGA/USDT Update: Recent Market DynamicsIn the last four hours, SAGA/USDT has exhibited significant price movements. The pair began with a strong upward trend, reaching a peak of $0.638 as increased buying interest and positive sentiment drove the price higher. This surge was likely influenced by recent bullish developments and heightened market enthusiasm around the SAGA token.However, the price has since retraced to approximately $0.620. This pullback could be due to profit-taking and market consolidation following the initial rally. Technical indicators show a mixed outlook: the Relative Strength Index (RSI) is approaching overbought territory, suggesting a potential for further consolidation or a brief retracement. Additionally, the Moving Average Convergence Divergence (MACD) is showing signs of a bearish crossover, indicating a possible shift in momentum #BinanceTurns7
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