Shares of XRP (CRYPTO: XRP) are tumbling on Tuesday. The cryptocurrency lost 4.7% as of 3:20 p.m. ET and was down as much as 5.2% earlier in the day. The decline comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) also posted losses amid growing economic concerns.
The third-largest cryptocurrency by market cap is feeling pressure, as a new survey released Tuesday shows rising anxiety on Wall Street.
A new CNBC Fed Survey shows the top fund managers, strategists, and analysts around Wall Street are growing more concerned a recession is incoming. The poll revealed that financial experts have raised the probability of a U.S. recession in the next year to 36% from 23% in January, reaching the highest level in six months. The GDP forecast for 2025 dropped from its previous estimate of 2.4% growth to 1.7% growth.
Source Fool.com