Why XRP (Ripple) Is Sinking Today
Since yesterday afternoon, the price of XRP (CRYPTO: XRP) traded roughly 8.5% lower, as of 3 p.m. ET. The fall is part of a broader decline in the crypto sector, which has now entered bear market territory.
Questions about artificial intelligence valuations and the Federal Reserve's trajectory regarding interest rate cuts are hitting the crypto market harder than the broader stock market. That's not entirely surprising, given the inherent volatility of crypto. The price of Bitcoin, the world's largest cryptocurrency and often viewed as a bellwether for the sector, has fallen from over $124,000 per token in early October to below $90,000, as of this writing, reflecting a nearly 29% drop.
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Source Fool.com
