Why XRP Is Sinking Today
XRP (CRYPTO: XRP) is falling on Friday, down 4.4% in the last 24 hours as of 5:59 p.m. ET. The slide comes as the S 500 gained 0.9% and the Nasdaq Composite rose 0.8%.
Despite rising hopes for additional interest rate cuts from the Federal Reserve -- a development that would typically benefit riskier assets like cryptocurrencies -- XRP is sliding, continuing its weeks-long decline.
An influential member of the Federal Open Market Committee (FOMC) -- the body responsible for setting interest rates -- indicated Friday that another rate cut is coming in December, but it hasn't stopped XRP's descent.
Source Fool.com
