Why XRP Is Sinking Today
The XRP (CRYPTO: XRP) cryptocurrency is falling in today's trading. The crypto token price was down 6.6% over the last 24 hours of trading as of 6:15 p.m. ET. Meanwhile, Bitcoin was down 4%, and Ethereum was down 5.3%.
XRP is losing ground today in conjunction with a broader pullback for the crypto market. Investors are putting more weight behind potential macroeconomic risk factors and taking money off the table after a year of explosive gains.
The crypto market has been highly volatile lately. Last Wednesday, the Federal Reserve announced a 25-basis-point cut for interest rates. The move was in line with investor expectations, but the central banking authority issued a cautious outlook for next year and sent equity and crypto markets tumbling. Instead of delivering the four quarter-point rate cuts previously forecasted, it now looks like only two cuts will arrive.
Source Fool.com
