Why Is Ripple’s XRP Down? Fed Policy and ETF Outflows Weigh on Crypto
2024-12-20T16:11:05.064 +02:00
Friday, 20/12/2024|14:11 GMT by Jared Kirui
After reaching a multi-year high of $2.80 previously this month, XRP has actually dropped more than 20% over the week.
XRP's cost decrease shows wider market difficulties instead of Ripple-specific concerns.
Ripple's XRP dropped almost 10% in the previous day as the crypto market dealt with down pressure. This drop, which has actually cleaned 7% off the international market cap, followed a federal reserve rate cut and a substantial outflow from Bitcoin-focused ETFs. The Federal Reserve's statement of a 0.25% rate cut, paired with Jerome Powell's mindful outlook for 2024, set off a wave of selling in crypto markets. Information from CoinMarketCap programs that the general cr...