XRP’s price crashed by 20% in less than 48 hours.
The Federal Reserve’s interest rate cut policy triggered a market-wide price correction.
XRP maintains a bullish outlook despite the recent price corrections.
XRP’s price fell 20% in less than 48 hours after a recent rally tied to Tuesday’s RLUSD launch, according to data from TradingView. The Ripple token retraced on Wednesday after the Federal Reserve’s latest interest rate cut news caused a market-wide price correction. XRP slid from Tuesday’s $2.7255 high to retest the support at $2.1708 early Thursday.
Beyond the Fed’s interest rate news impact, XRP’s pullback looked like a “buy the rumor, sell the news” scenario. The crypto asset’s price rose before the RLUSD launch and started falling even before the Fed’s announcement. This has led crypto analysts to examine the recent price correction and whether it signals trouble for XRP.
Read also: Altcoin ETFs: XRP, LTC, HBAR & SOL Expected to Join Bitcoin in U.S. Markets
A closer look at the crypto market pullback shows XRP plunged 13% in less than 24 hours, lower than most top cryptocurrencies. Early Thursday’s extension means the drop reached 16% …
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