Can XRP Hit a New Peak of $4 After September's Rate Cut?
Ripple’s XRP token climbed to a new all-time high of $3.65 on July 18. The popular crypto hit a new peak after more than seven years. XRP’s price has fallen by more than 20% from its recent high. According to CoinGecko data, XRP is down 11% over the last week, 2.8% in the 14-day charts, and 16% over the previous month. Despite the correction, the asset has gained 0.7% in the past 24 hours and 387.7% since August 2024. Source: CoinGecko Will XRP Hit a New All-Time High After a Rate Cut in September? According to the CME FedWatch tool, there is an 81.2% chance that the Federal Reserve will cut interest rates by 25 basis points in September. A rate cut will likely lead to a surge in risky investments. Such a development could cause XRP’s price to surge. Source: CME While there is a high likelihood of an interest rate cut next month, it should be noted that the odds of a rate cut on CME’s FedWatch platform have significantly dipped over the last few days. The chances...