Why XRP Is Sinking Today
XRP's (CRYPTO: XRP) token price has continued to head lower in Friday's trading. As of 1:40 p.m. ET, the cryptocurrency's token price had fallen 1.4% over the past 24 hours amid ongoing selling trends impacting valuations across the crypto market. At the same point in the day's trading, Bitcoin had fallen 2.9%, and Ethereum was down 1.7%. On the other hand, the token has seen some recovery momentum as the day's trading has progressed.
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Investors are continuing to move out of speculative, higher-risk investments in response to macroeconomic and geopolitical dynamics. Bullish crypto traders have been betting that the Federal Reserve will issue another cut for interest rates when it meets next month, but missing data tracking for U.S. inflation and unemployment numbers stemming from the government shutdown have increased fears that a cut may not be in the cards.
Source Fool.com
