XRP targets below $0.3700 as an approach to the Fed’s policy decision

Binance and the Fed’s concern left XRP in the hands of cryptocurrency market sentiment

Sunday’s session was quiet, with no updates from the ongoing SEC v Ripple case to distract investors. While there were no updates, speculative rumors swirled, with Cardano founder Charles Hoskinson speaking about the SEC vs. Ripple case that ended this week.

During an Ask Me Anything (AMA) session on YouTube, Hoskinson He saidAnd the

“I’ve been hearing rumors that the Ripple issue will be settled on December 15th, and it could have dire consequences for the industry one way or another. But you know, keep moving forward. No matter what happens, it’s a decentralized ecosystem that you control.”

However, investors remained steadfast on the Fed’s monetary policy pending the court’s decision on summary judgment. After positive US economic indicators, including the US jobs report and the ISM Non-Manufacturing PMI, the Fed’s concerns resurfaced ahead of tomorrow’s US CPI report.

A hotter-than-expected annual rate of inflation could raise bets on a 75bp rate hike. Hard bets would dampen appetite for riskier assets amid growing fears of an economic recession.

Aside from the Federal Reserve and the ongoing SEC v Ripple case, investors should also watch for updates from Binance regarding reports of unusual activity on the platform.

Leave a Reply

Your email address will not be published. Required fields are marked *