Bitcoin and Other Top Coins Rise as Trump Mulls Firing Jerome Powell

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

Crypto tokens 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.

After several months of declining prices, the world’s leading cryptocurrency is trading above the $70,000 mark. It has also formed a triple bottom pattern at this level, which may act as support.

At the same time, the dollar index is approaching the crucial support level of 99. A drop below this zone will likely spark a dollar crash and boost the price of BTC.

One factor that may lead to this scenario is President Trump's decision on whether to fire Jerome Powell. The president has expressed his frustrations with the Fed chair on several occasions.

His main concern is that the Fed is not cutting interest rates, despite data showing that inflation has dropped. He also stated that the "artificially high" dollar is hurting US exports.

According to Trump, 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 now consulting on whether he can fire him.

Such a move 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.

As Trump is considering firing the Fed Chair, here are some of the best blue-chip altcoins to buy if this happens:

XRP: Forms A Falling Wedge Pattern

XRP is a top altcoin to buy as it has numerous catalysts. There are signs that the SEC will approve an XRP ETF. According to a recent filing, the iShares Trust may be launching its own version of the token.

Also, Ripple acquired Hidden Road and it may integrate its operations into its ledger. The bank's clients will then be able to use the XRP token for cross-border payments.

This move will also enable the integration of the global financial system with crypto, a goal that several institutions are trying to achieve.

Moreover, XRP price may receive a boost once the long-running battle with the SEC ends. Earlier this week, a judge ordered the SEC to hand over internal documents about how it views bitcoin and ether.

The ruling in the case, which went to federal claims court in New York, relates to a Freedom of Information Act lawsuit filed by the non-profit advocacy group, Progress Together.

The group is seeking to obtain internal SEC documents that could shed light on the SEC's thinking about bitcoin and ether, which the SEC maintains are not securities.

The judge's order to the SEC to produce the documents by August 8 is a setback for the SEC, which has argued that disclosing such documents would be "contrary to the public interest."

The non-profit group is interested in the SEC's internal thinking on bitcoin and ether because it is seeking to intervene in a case where the SEC is trying to shut down a company, Omni Network, that sells a tokenized version of the bitcoin and ether on the Stellar blockchain.

The group believes that the SEC's actions are part of a broader effort to suppress innovation in the cryptocurrency industry.

The judge's ruling is a victory for those who believe that the SEC is not transparent enough in its decision-making processes. It may also lead to the approval of several crypto products and ETFs.

Technical analysis shows that XRP price is forming 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

Another top crypto token to buy is Binance Coin. Fundamentally, BNB has a planned upgrade in April and another one in June. It has also emerged as a key competitor to Ethereum and Solana, especially after it launched its own blockchain in February.

The Binance Coin 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

Among the best meme coins to buy is Pepe, which is showing signs of bottoming. The token has formed a double-bottom pattern at $0.000005860.

This pattern formed after the token created a falling wedge, a highly accurate reversal pattern. After sliding to lows of $0.00000300, buyers stepped in and pushed the coin to highs of $0.00000899.

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 $0.0