The post Worst Crash Of 2024: Expert Warns of Major XRP Dump After FOMC, But Why Is This Viral Altcoin Holding Strong? appeared on BitcoinEthereumNews.com.

Fed hawkish pivot sinks XRP to $2.24 as rate hike outlook raises 2025 FED funds rate from 3.4% to 3.9%. The statistical analysis might spread an optimistic narrative for Ripple’s XRP, but DTX Exchange’s fast-selling presale is on the verge of securing another million within a week. Currently holding $10.41 million in its 6th presale stage, DTX is quietly forming a bullish pattern. Ripple (XRP) Dips By 6% After FED Issues FOMC Statement The focus shifted from the SEC vs. Ripple case to the FED on Wednesday, December 18. In line with expectations, the US Federal Reserve cut rates by 25 basis points. However, a more hawkish Fed rate path outlook spooked investors, sending XRP to a Wednesday session low of $2.2463. The FOMC Economic Projections revealed a significant revision for the 2025 Fed Funds Rate, increasing from 3.4% to 3.9%. SEC Shake-Up: Crenshaw’s Exit Signals Amid the market fallout from the Fed’s hawkish pivot, the Senate Banking Committee unexpectedly canceled its vote on SEC Commissioner Caroline Crenshaw’s renomination. This development follows heightened political tension over Crenshaw’s perceived anti-crypto stance. The failed renomination vote means Democrat Commissioner Crenshaw will leave the SEC alongside Chair Gensler and Commissioner Jaime Lizarraga. Commissioner Lizarraga and Chair Gensler leave the SEC on January 17 and 20, respectively, paving the way for a crypto-friendly agency. Notably, Crenshaw’s looming departure raises questions about the SEC’s appeal plans in the Ripple case. While Chair Gensler may file the opening brief by the January 15 deadline, new crypto-friendly leadership could withdraw it altogether. Crenshaw’s Pending Departure To Boost XRP Demand? On Wednesday, December 18, XRP tumbled 10.07%, reversing Tuesday’s 3.39% rally to close at $2.3098. XRP underperformed the broader crypto market, which slid by 6.08% to a total market cap of $3.410 trillion as investors reacted to the…

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Filed under: News - @ December 21, 2024 5:07 am