#MarketPullback Q: Why has the price of XRP dropped recently?

A: The price of XRP was affected after the Federal Reserve cut interest rates by 0.25%, raising them to 4.5%. This was intended to boost economic activity, but instead sparked a “sell the news” reaction, wiping out $1.5 trillion from the U.S. stock market and liquidating over $310 million worth of cryptocurrencies. XRP was particularly affected, falling to $2.23, a loss after the launch of RLUSD, although it has since rebounded to around $2.31.