Daily Crypto Market Recap - XRP Joins DOGE and BNB in the Green

Monday was a mixed day for the top 10 cryptocurrencies, with dogecoin (DOGE) advancing and ethereum (ETH) falling. The broader market was pulled down by the NASDAQ Composite Index's poor month-end performance, while XRP, BNB, and DOGE enjoyed bullish days. The market capitalization of cryptocurrencies decreased by $0.506 billion to close the month at $971.9 billion. The crypto top 10 experienced a mixed Monday session. Dogecoin (DOGE) resumed its climb toward $0.20, while binance coin (BNB) and ripple (XRP) defied the trend. However, BTC touched red for the second time in four sessions despite avoiding sub-$20,000 territory for the sixth day in a row.

The absence of US economic indicators left the NASDAQ to exert influence. As investors prepare for Wednesday's FOMC interest rate decision and press conference, market caution has returned after last week's Fed pivot-driven gains.

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Important statistics include ISM Manufacturing PMI, JOLTs job vacancies, and ADP nonfarm employment change figures prior to Wednesday's decision. In light of the contradictory statistics from the previous week, we can anticipate sensitivity to the numbers.

Today, economic indicators in the United States include the ISM Manufacturing PMI and JOLTs job opportunities.

The markets will look beyond the headline numbers for both reports. The ISM survey will likely focus on new orders, cost pressures, and employment, while the JOLTs report will highlight quit rates.

While the markets have priced in a 75-basis-point November hike, December's action remains unknown.

The FedWatch Tool placed the probability of November and December rate hikes at 89.2% and 47.2%, respectively, prior to Tuesday's session. Prior to one week, the probability of a 75-basis-point increase in December stood at 54.9%.

Given the crypto market's sensitivity to US economic statistics and the FED, the correlation with the NASDAQ 100 is likely to persist in the near future. The NASDAQ 100 Mini gained 26.25 points this morning. The NASDAQ Composite Index lost 1.03 percent on Monday.