Crypto tokens have started the week well, with Bitcoin and other top coins rising by over 1%. One reason for the rally is the rising probability that President Trump will remove Jerome Powell as Fed Chair. Such a move would lead to a weaker US dollar, and a possible surge of gold and Bitcoin. Let’s find out some of the best blue-chip altcoins to buy if this happens.
Will Donald Trump Fire Jerome Powell?
Trump has expressed his frustrations with Jay Powell several times. His main concern is that the Fed is not cutting interest rates, despite data showing that inflation has dropped.
He believes that Fed cuts will help to boost the stock market, which has moved into a correction this year. As such, according to Kevin Hassett, his economic advisor, he is consulting on whether he can fire him.
Firing the Fed Chair would be unprecedented and shake up the faith in US markets. On the positive side, it is unclear whether the Supreme Court would allow him to do that.
Top Crypto Tokens to Buy if Jerome Powell is Fired
XRP: Forms a Falling Wedge Pattern
XRP is a top altcoin to buy because it has numerous catalysts. There are signs that the SEC will approve an XRP ETF. Ripple also acquired Hidden Road, and it may integrate its operations into its ledger. Also, the coin may receive a boost once the long-running battle with the SEC ends.
XRP price may surge because it has formed a falling wedge pattern, signaling an eventual comeback. The most likely target will be the YTD high of $3.4.
BNB: Cup and Handle Forms
Binance Coin is one of the top crypto tokens to buy. Fundamentally, it has a planned upgrade in April and another one in June. It has also emerged as a key competitor to Ethereum and Solana.
BNB price may also benefit from its regular token burns, and the formation of a cup and handle pattern. This pattern has a horizontal line and a rounded bottom, and often leads to a strong rally. In this case, the token may rise to the psychological point at $1,000.
Pepe: Shows Bottoming Signs
Pepe, a top meme coin, is a blue-chip crypto token to accumulate as it shows signs of bottoming. It has formed a double-bottom pattern at $0.000005860. This pattern formed after the token created a falling wedge, a highly accurate reversal pattern.
Pepe has also formed a bullish divergence as most oscillators rebound and point upwards. Therefore, the token will likely continue to soar as buyers aim for the double bottom’s neckline at $0.00000922.
Bottom Line on the Best Altcoins to Buy
Donald Trump is considering whether he will fire Jerome Powell. Some of the top altcoins that may thrive even if this happens will be XRP, Pepe, and BNB. Other tokens to acquire are Solana, Cardano, and Tron.
The post Top 3 Blue Chip Crypto Tokens to Buy if Trump Fires Jerome Powell appeared first on CoinGape.
