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Why XRP (Ripple) Is Sinking Today

TheMotleyFool

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Since yesterday afternoon, the price of XRP (CRYPTO: XRP) has traded nearly 4.4% lower, as of 10:09 a.m. ET today for no obvious reason. However, the broader crypto market slumped as investors digested the Federal Reserve's interest rate cut last week and tried to see what could be coming next.

At first glance, one would think that crypto would have kept steamrolling higher today. The Federal Reserve has cut interest rates for the first time since last December and indicated that more cuts are on the way. However, the Fed's dot plot showed that members of the Fed think there will be fewer rate cuts in 2026 than investors expected going into last week's meeting.

Image source: Getty Images.

Source Fool.com

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