Fed Rate Cut Buoys XRP Price, But Double-Digit Rally Still a Long Shot

XRP price surged after softer-than-expected US labor data and a weaker employment picture, strengthening the case for a Federal Reserve rate cut.

The weaker jobless claims came in at 206K versus expectations of 205K, with ADP payrolls coming in at just 38K against a 47K forecast.

This has given risk assets, including crypto, another reason to rally, and XRP trading volume has remained around $4 billion to $5.5 billion while its market cap sits near $90.9 billion.

The double-digit XRP price prediction remains a highly bullish scenario rather than a base case, but improving rate-cut expectations could give XRP and other altcoins another macro tailwind.