Ripple (XRP) saw a decline of 4% after a rally lost momentum, failing to sustain gains above the $2.50 resistance level. Key support levels for XRP are at $2.30, and if it drops below this, further declines could occur. Inflation reports in the US this week could impact central bank monetary policy and high-risk assets like cryptocurrencies. The cryptocurrency market faced a significant downturn, with over $300 billion exiting the sector. Bitcoin and gold both broke their inverse relationship with the S&P 500, and assets under management in Bitcoin and gold ETFs reached around $130 billion collectively. The ongoing wildfires in Los Angeles have led to significant economic losses and a sharp decline in insurance stocks. This may lead investors to consider alternative avenues such as cryptocurrencies.



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