Why XRP Is Sinking Today
XRP (CRYPTO: XRP) is falling in Monday's trading. The cryptocurrency's share price was down 6.9% over the last 24 hours as of 2:40 p.m. ET. At the same point in the day's trading, Bitcoin and Ethereum were down 5.1% and 7.7%, respectively.
XRP and other cryptocurrencies are seeing sell-offs in today's trading due to a combination of bearish catalysts. In addition to concerns about a new artificial intelligence (AI) model launched by a Chinese company, the crypto market is also seeing sell-offs due to fears that the Federal Reserve will not lower interest rates in the near future.
Last week, Chinese technology specialist DeepSeek unveiled its new open-source AI model. The new system offers performance advantages compared to OpenAI's ChatGPT and other leading AI models in some respects. As more details about the new AI system have emerged and the market has had time to weigh its potential implications, bearish sentiment has emerged connected to perceptions about the state of the AI race between the U.S. and China.
Source Fool.com
