Most digital currencies rose during trading on Tuesday, despite quiet trading in global markets in preparation for the Christmas holiday.
The US Federal Reserve decided last week to cut interest rates by 25 basis points after two consecutive cuts of 50 basis points each.
This reading may lead the Federal Reserve to continue its efforts to slow the pace of interest rate cuts in 2025, after it revealed in its quarterly forecast statement issued last Wednesday that it intends to cut interest rates by only 50 basis points over the course of next year as inflation risks remain high.
Trading is expected to be thin this week, as Wall Street closes early today and will be closed to investors on Wednesday.
Many stock and bond markets in Europe are closed today for the Christmas holiday, which will continue into tomorrow.
Ripple $XRP
In terms of trading, the price of Ripple jumped by 18:25 GMT on the CoinMarketCap platform by 7.2% to $2.33.
Ethereum $ETH
Ethereum price rose by 4.8% to $3,499.5 by 18:25 GMT on CoinMarketCap.
