Waller's Rate Hike Fears Ease, But XRP Faces Regulatory Uncertainty
Federal Reserve Governor Christopher Waller's statement on Thursday that he would support holding rates steady this month lifted both XRP and Bitcoin. However, the XRP price still trails behind its counterpart, down 48% over the past year against Bitcoin's 27% decline.
The XRP price surged by about 5% in a week and 37% over the past month after Waller stated that three-month core inflation fell from 4.76% in February to 3.05% through July, indicating disinflation taking hold. He added that hiking a quarter point now would not bring CPI to 2% any faster.
The XRP price is closely tied to the rate hike decision, which will be announced on September 16. If the Fed pauses interest rates, it could give XRP a boost, but if the rate hikes, the pressure on the XRP price would increase. The Senate vote on the CLARITY Act on September 15 will also have an impact on XRP's regulatory status.