Bitcoin, Ethereum, XRP price outlook as US jobless claims hit 57 year low

Bitcoin, Ethereum and XRP are facing renewed uncertainty over the Federal Reserve’s interest rate outlook after US initial jobless claims fell to 194,000, bringing layoffs close to their lowest level in 57 years. Summary US initial jobless claims fell by 6,000 to 194,000, coming in below economists’ expectations of 200,000. The Federal Reserve is expected to keep interest rates unchanged at its October meeting, while economists anticipate another 25 basis point hike in December. Bitcoin faces resistance near $85,000, with a breakout potentially opening the way toward $87,000 and $90,000. Ethereum remains below $2,500, buyers need to reclaim it before a possible recovery toward $2,550 and $2,700 may come into play. XRP faces resistance between $1.38 and $1.41, while a move below $1.33 could put the $1.28 support level back in focus. According to the US Department of Labor’s October 22 report, new applications for unemployment benefits dropped by 6,000 during the week ended October 17, compared with economists’ expectations of 200,000. The four week moving average fell by 1,000 to 197,750, while continuing claims rose by 25,000 to 1.728 million in the preceding week. The insured unem...