XRP's price has fallen by 8% to $0.68, underperforming the crypto market's 3.5% decline on July 24. This drop is due to growing expectations that the Federal Reserve will raise interest rates by 25 basis points in its July 25-26 meeting, which is considered bad for cryptocurrencies like XRP. Traders have rotated out of high-cap cryptos to seek shelter in safer assets like the U.S. dollar, causing XRP's price to fall. From a technical standpoint, XRP has entered an overbought correction stage and may decline towards $0.59 in July or early August.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
XRP Price Drops Amid Rising Dollar Strength and Fed Rate Decision Awaited
-
Wechat scan to share
Recommended for you
-
Tether Treasury mints 1 billion USDT on Ethereum
according to Whale Alert monitoring, at 22:24:23 Beijing time, Tether Treasury minted 1 billion USDT on the Ethereum chain. -
Spot gold rose above $3,700 per ounce, setting a new record high
spot gold rose in the short term, breaking through $3700 per ounce, rising 0.56% intraday, hitting a new historical high again, and rising by $1076 per ounce so far this year. Market analysis believes that the acceleration of weakening US employment data supports the Fed's resumption of rate cuts in September, and the expectation of rate cuts is the key driving force for the recent rise in gold prices. Goldman Sachs stated on September 4 that if the credibility of the Federal Reserve is damaged and investors convert a small portion of their US bond holdings into gold, the price of gold could soar to nearly $5,000 per ounce. -
MANTA: 19.98 million OM tokens have been repurchased, accounting for approximately 1.88% of the circulating supply.
MANTA has released an update on the repurchase of OM tokens on the X platform, disclosing the progress of its repurchase plan with a scale of $25 million. As of September 16, 19.98 million OM tokens have been repurchased, accounting for approximately 1.88% of the circulating supply. -
CNBC: Tiktok transaction expected to close in 30 to 45 days
according to CNBC, the TikTok agreement will include existing ByteDance investors, and the TikTok transaction is expected to be completed within 30 to 45 days. Oracle will retain the TikTok cloud service agreement under the new agreement. -
Trump: Just signed the document appointing Milan as Federal Reserve Board member
Trump: is calling Milan to discuss Senate confirmation matters. Just signed a document appointing Milan as a director of the Federal Reserve, which will be transferred to the Federal Reserve. The Federal Reserve needs to be independent. -
Bank of America CFO: Legislative clarity allows us to develop stablecoins for clients
Chief Financial Officer of Bank of America stated that legislative clarity allows us to develop stablecoins for customers. We can develop them on our own or collaborate with the industry. -
Barclays, Revolut, Coinbase, Binance, and others hold conference in London
according to market news, Barclays Bank, Revolut, Coinbase, Binance and other companies held a meeting in London. Goldman Sachs, HSBC, and Bank of America also participated in this event. -
Fed Governor Bowman: Be cautious about rate cuts
Federal Reserve Governor Bowman said there are upside risks to inflation and the continued strength of the labor market, indicating that she may not be prepared to support a rate cut at the next meeting of U.S. central bank officials in September. She said that the progress made in reducing inflation in May and June was welcome, but inflation is still above the committee's 2% target, which is disturbing. I will remain cautious when considering adjusting the current policy stance. She also said that U.S. fiscal policy, the pressure on the real estate market from immigration, and geopolitical risks may all put upward pressure on housing prices, and the recent jump in the unemployment rate to 4.3% may exaggerate the extent of the cooling of the labor market. -
Bloomberg ETF Analyst: XRP ETF may be the next exchange-traded fund product to be launched
Bloomberg ETF analyst James Seyffart forwarded market news on X platform, stating that during the Bitcoin 2024 conference, Discover Crypto CEO Joshua Jake was interviewed and he said that XRP ETF could be the next possible exchange-traded fund product to launch.
Daily Must-Read
-
Crypto treasuries set for ‘bumpy ride’ as premiums narrow: NYDIG
-
Trump family went pro-crypto after Biden ‘weaponized banks’ — WSJ
-
New York lawmaker wants to tax crypto sales and transfers
-
Trump to order probe of crypto and political debanking claims: WSJ
-
Bros who tricked MEV bots with their own medicine must face trial, says judge
-
Western Union CEO Views Stablecoins as an Opportunity, Not a Threat: Bloomberg
All Comments