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Why Did XRP Plummet 6.2% Today?

TheMotleyFool

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XRP (CRYPTO: XRP) is down 6.2% in the last 24 hours as of 7:15 p.m. ET on Monday. The drop comes as the S 500 fell 0.6% and the Nasdaq Composite slid 0.4%.

With CoinMarketCap's market sentiment tracker nearly tipping into "extreme fear," XRP and the broader crypto market continue to fall. Today, comments from the head of the Bank of Japan (BOJ) opened the door for an interest rate hike, adding fuel to the fire.

As the U.S. Federal Reserve appears poised to lower U.S. rates, the BOJ could be moving in the opposite direction. BOJ Governor Kazuo Ueda said Monday that the BOJ is weighing the "pros and cons" of raising interest rates.

Source Fool.com

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