XRP's price has dropped nearly 20% in recent days, following a broader decline in the cryptocurrency market. This decline can be attributed to tightening global liquidity and a hawkish stance from the Federal Reserve. The Federal Reserve's decision to reduce its benchmark rate and introduce an unexpectedly hawkish tone has led to a stronger dollar, tightening global financial conditions and making speculative assets like cryptocurrencies less attractive. XRP's decline is in line with the overall market sentiment and is driven by macroeconomic factors rather than specific issues with the asset.
- Content Editor ( cryptoglobe.com )
- 2024-12-23
Why Is XRP Down? Dec. 23rd Update and Price Analysis