Latest news with #BPI
Yahoo
6 days ago
- Business
- Yahoo
XRP Analysis: $3 Becomes Make-or-Break Level for the Ripple Linked Token
Ripple's XRP posted a 5% gain on the day as traders shrugged off a fresh wave of opposition from traditional banks to Ripple's license application. Price action remained volatile between $2.83 and $3.11, with short-term upside stalling at resistance levels while volumes surged past 110 million XRP — including a $33 million one-minute transaction that spooked order books. What to Know BPI, which represents 42 banks, filed objections to Ripple's pending banking license, injecting fresh uncertainty into regulatory timelines. XRP rallied from $2.83 to $3.11 before closing at $3.04, with a 9.8% intraday swing across the session. Support at $3.00 held despite mid-day selloffs and fading momentum above $3.09. Institutional flows remained net neutral: $2.1 billion in token divestment offset by $14 million in leveraged long positions. AI-driven models project a $3.12 move by August-end — though TD Sequential flags short-term reversal risk. News Background The banking sector's coordinated filing against Ripple's license effort marks the most concentrated resistance the firm has faced since its partial victory against the SEC. For traders, the news was mostly background noise — as XRP's price held firm above $3.00 and saw liquidity bursts typically associated with large players moving in and out of the asset. Price Action Summary CoinDesk Analytics shows XRP hit a session high of $3.11 around 17:00 before reversing on volume spikes of 69.89 million XRP. Support formed at $2.97 during the Asia session (05:00–06:00), reinforced by back-to-back 50M+ XRP trades. Final-hour action (13:09–14:08) showed XRP holding flat at $3.03, with 2.1 million XRP sold during the breakdown attempt. Technical Analysis Price structure shows a clean consolidation band between $3.00–$3.02, with no structural breakdown yet. Bulls failed multiple times at $3.09–$3.11, signaling short-term exhaustion near that resistance cluster. Trading volume stayed above the daily mean (47.7 million) in five separate hourly windows — showing sustained interest. TD Sequential on the 3-day chart signals a completed 9-count — typically a local top. Breakout level remains $3.05, with upside extensions to $3.15 possible if volume returns above 50M/hour. What Traders Are Watching Whether Ripple responds publicly to the banking sector's challenge, and how regulators react. If $3.00–$3.02 continues to act as accumulation range for larger holders. Volume participation into the weekend — any slowdown could set up for a $2.92–$2.97 retest. Trend flips on confirmation above $3.05 on strong hourly volume, targeting $3.12–$3.25 range. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
XRP Analysis: $3 Becomes Make-or-Break Level for the Ripple Linked Token
Ripple's XRP posted a 5% gain on the day as traders shrugged off a fresh wave of opposition from traditional banks to Ripple's license application. Price action remained volatile between $2.83 and $3.11, with short-term upside stalling at resistance levels while volumes surged past 110 million XRP — including a $33 million one-minute transaction that spooked order books. What to Know BPI, which represents 42 banks, filed objections to Ripple's pending banking license, injecting fresh uncertainty into regulatory timelines. XRP rallied from $2.83 to $3.11 before closing at $3.04, with a 9.8% intraday swing across the session. Support at $3.00 held despite mid-day selloffs and fading momentum above $3.09. Institutional flows remained net neutral: $2.1 billion in token divestment offset by $14 million in leveraged long positions. AI-driven models project a $3.12 move by August-end — though TD Sequential flags short-term reversal risk. News Background The banking sector's coordinated filing against Ripple's license effort marks the most concentrated resistance the firm has faced since its partial victory against the SEC. For traders, the news was mostly background noise — as XRP's price held firm above $3.00 and saw liquidity bursts typically associated with large players moving in and out of the asset. Price Action Summary CoinDesk Analytics shows XRP hit a session high of $3.11 around 17:00 before reversing on volume spikes of 69.89 million XRP. Support formed at $2.97 during the Asia session (05:00–06:00), reinforced by back-to-back 50M+ XRP trades. Final-hour action (13:09–14:08) showed XRP holding flat at $3.03, with 2.1 million XRP sold during the breakdown attempt. Technical Analysis Price structure shows a clean consolidation band between $3.00–$3.02, with no structural breakdown yet. Bulls failed multiple times at $3.09–$3.11, signaling short-term exhaustion near that resistance cluster. Trading volume stayed above the daily mean (47.7 million) in five separate hourly windows — showing sustained interest. TD Sequential on the 3-day chart signals a completed 9-count — typically a local top. Breakout level remains $3.05, with upside extensions to $3.15 possible if volume returns above 50M/hour. What Traders Are Watching Whether Ripple responds publicly to the banking sector's challenge, and how regulators react. If $3.00–$3.02 continues to act as accumulation range for larger holders. Volume participation into the weekend — any slowdown could set up for a $2.92–$2.97 retest. Trend flips on confirmation above $3.05 on strong hourly volume, targeting $3.12–$3.25 range. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
30-07-2025
- Business
- Business Times
Fed to avoid clear signal on rate-cut timing
[NEW YORK] Investors parsing Jerome Powell's remarks on Wednesday (Jul 30) for any hint that the US Federal Reserve is moving closer to an interest-rate cut might be left wanting. Policymakers are largely expected to hold interest rates steady for a fifth consecutive meeting at the conclusion of their Jul 29 to 30 gathering. Dissents from one or more officials could send the message that some members of the rate-setting Federal Open Market Committee (FOMC) prefer to reduce borrowing costs sooner rather than later. But with an onslaught of economic data due before their next meeting in September, the Fed chair may opt to leave his options open until there's more clarity about the direction of the economy and the right path for policy. 'There is no doubt that the FOMC will leave interest rates unchanged,' Bill Nelson, chief economist for the Bank Policy Institute (BPI), said on Tuesday in a note. 'The question is whether they will convey a greater openness to cutting rates at their September meeting,' Nelson, formerly a top economist at the central bank, said. US President Donald Trump has not ceased his calls for rate cuts. And Powell will surely field questions about the central bank's US$2.5 billion building renovation, which has become a target for Republicans attacking the Fed. The Fed's rate decision will be released at 2 pm in Washington on Wednesday, and Powell will hold a post-meeting press conference 30 minutes later. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up September outlook After this week, the Fed will hold only three more policy meetings this year. In June, Fed officials signalled their intention to deliver two quarter-point rate cuts in 2025, based on their median projection. That makes a reduction in September seem likely, said Veronica Clark, an economist at Citigroup. 'The average official is still in this wait-and-see mode, but September is very reasonable,' said Clark. But it's still an open question how much Powell will move expectations in that direction, said BPI's Nelson. Investors are already putting the probability of a rate cut in September at more than 60 per cent, according to pricing in federal funds futures contracts. Fed officials might not want those odds to move higher before they have had a chance to review the economic data coming before the meeting, Nelson said. Policymakers will see two more jobs reports, including the July report due on Friday, before they gather on Sep 16 to 17. They will also get additional data on inflation, spending and housing. 'If the committee wants to keep its options open, it will have to be studiously neutral and continue to emphasise data-dependence,' Nelson said. Dissenting votes If the Fed chooses to maintain its characterisation of the labour market as 'solid' in its post-meeting statement, it could elicit dissenting votes from officials who are worried that the US employment landscape is looking more fragile. Fed governor Christopher Waller laid out his argument for a July rate cut in a detailed speech earlier this month, expressing concern about a labour market 'on the edge' that could deteriorate rapidly if the Fed does not offer more support. Another governor, Fed vice-chair for supervision Michelle Bowman, has also expressed a readiness to lower rates as soon as this meeting. If both Waller and Bowman dissent, it would be the first time since 1993 that two governors voted against a policy decision. While notable, some Fed watchers say it's normal to have disagreement among officials when policy is nearing a turning point. Tariff impact Powell is likely to face questions about his reading of the latest inflation data. The Fed chief and other officials have expressed cautiousness about lowering rates until they better understand the impact of tariffs on prices. Trump's Aug 1 deadline for trade deals could provide some additional clarity on where the average tariff rate will settle, and by extension, the economic outlook. Waller has said he expects tariffs to lead to a one-time price bump, while other officials are worried the hit to inflation could prove more persistent. Prices of some goods have risen, but many economists are puzzled as to why the effects have not been more pronounced. The impact may be delayed by businesses front-loading imports of inventories, absorbing the blow through lower profit margins and, at least for now, sharing some of the burden of tariffs with others across the supply chain, said Gregory Daco, chief economist for EY-Parthenon. Political pressure There's no shortage of additional topics that could come up in the press conference, including the Fed's renovation project, and the tour given to Trump and other Republicans last week. Powell may be peppered with questions about whether political pressure is affecting officials' ability to make policy decisions. Powell may also be asked to respond to a proposal from Treasury Secretary Scott Bessent that the central bank conduct a review of non-monetary policy functions to address what he called 'mission creep'. 'An internal review would be a good start,' Bessent said on Jul 23. 'And if the internal review didn't look like it was serious, then maybe there could be an external review.' BLOOMBERG
GMA Network
17-07-2025
- Business
- GMA Network
BPI nets P33B in H1 2025
Ayala-led lender Bank of the Philippine Islands (BPI) on Thursday reported a 7.8% increase in its net income in the first six months of the year. BPI said its net income rose to P33.0 billion in the first half, as revenues grew 14.0% to P92.6 billion. Net interest income climbed 16.2% to P71.2 billion, while non-interest income rose 7.4% to P21.4 billion led by credit cards, insurance, and wealth management. Operating expenses for the first half increased 11.7% to P42.7 billion, as the bank spent on technology, business volume-related expenses, and manpower structural increases. Provisions for the period stood at P8.3 billion to reflect a 141.7% increase from the previous year, with the non-performing loan (NPL) ratio at 2.25%, and the NPL coverage ratio at 97.1%. Total assets climbed 9.3% to P3.4 trillion, while gross loans increased 14.1% to P2.4 trillion on the back of the growth across all portfolios, led by non-institutional loans. The bank in April said it was looking at loan growth of 12% to 13% this year, with non-institutional loans accounting for 30% of the total portfolio. —VBL, GMA Integrated News
CNBC
15-07-2025
- Health
- CNBC
Whoop says FDA is 'overstepping its authority' with warning about blood pressure feature
The U.S. Food and Drug Administration on Tuesday published a warning letter addressed to the wrist wearable company Whoop, alleging it is marketing a new blood pressure feature without proper approvals. The letter centers around Whoop's Blood Pressure Insights (BPI) feature, which the company introduced alongside its latest hardware launch in May. Whoop said its BPI feature uses blood pressure information to offer performance and wellness insights that inform consumers and improve athletic performance. But the FDA said Tuesday that Whoop's BPI feature is intended to diagnose, cure, treat or prevent disease — a key distinction that would reclassify the wellness tracker as a "medical device" that has to undergo a rigorous testing and approval processes. "Providing blood pressure estimation is not a low-risk function," the FDA said in the letter. "An erroneously low or high blood pressure reading can have significant consequences for the user." A Whoop spokesperson said the company's system offers only a single daily estimated range and midpoint, which distinguishes it from medical blood pressure devices used for diagnosis or management of high blood pressure. Whoop users who purchase the $359 "Whoop Life" subscription tier can use the BPI feature to get daily insights about their blood pressure, including estimated systolic and diastolic ranges, according to the company. Whoop also requires users to log three traditional cuff-readings to act as a baseline in order to unlock the BPI feature. Additionally, the spokesperson said the BPI data is not unlike other wellness metrics that the company deals with. Just as heart rate variability and respiratory rate can have medical uses, the spokesperson said, they are permitted in a wellness context too. "We believe the agency is overstepping its authority in this case by attempting to regulate a non-medical wellness feature as a medical device," the Whoop spokesperson said. High blood pressure, also called hypertension, is the number one risk factor for heart attacks, strokes and other types of cardiovascular disease, according to Dr. Ian Kronish, an internist and co-director of Columbia University's Hypertension Center. Kronish told CNBC that wearables like Whoop are a big emerging topic of conversation among hypertension experts, in part because there's "concern that these devices are not yet proven to be accurate." If patients don't get accurate blood pressure readings, they can't make informed decisions about the care they need. At the same time, Kronish said wearables like Whoop present a "big opportunity" for patients to take more control over their health, and that many professionals are excited to work with these tools. Understandably, it can be confusing for consumers to navigate. Kronish encouraged patients to talk with their doctor about how they should use wearables like Whoop. "It's really great to hear that the FDA is getting more involved around informing consumers," Kronish said. Whoop is not the only wearable manufacturer that's exploring blood pressure monitoring. Omron and Garmin both offer medical blood pressure monitoring with on-demand readings that fall under FDA regulation. Samsung also offers blood-pressure-reading technology, but it is not available in the U.S. market. Apple has also been teasing a blood pressure sensor for its watches, but has not been able to deliver. In 2024, the tech giant received FDA approval for its sleep apnea detection feature. Whoop has previously received FDA clearance for its ECG feature, which is used to record and analyze a heart's electrical activity to detect potential irregularities in rhythm. But when it comes to blood pressure, Whoop believes the FDA's perspective is antiquated. "We do not believe blood pressure should be considered any more or less sensitive than other physiological metrics like heart rate and respiratory rate," a spokesperson said. "It appears that the FDA's concerns may stem from outdated assumptions about blood pressure being strictly a clinical domain and inherently associated with a medical diagnosis." The FDA said Whoop could be subject to regulatory actions like seizure, injunction, and civil money penalties if it fails to address the violations that the agency identified in its letter. Whoop has 15 business days to respond with steps the company has taken to address the violations, as well as how it will prevent similar issues from happening again. "Even accounting for BPI's disclaimers, they do not change this conclusion, because they are insufficient to outweigh the fact that the product is, by design, intended to provide a blood pressure estimation that is inherently associated with the diagnosis of a disease or condition," the FDA said.
