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Crypto

XRP Breaks Out Amid Utility Boost

Guavy AI Editorial Team
Instruments
XRP RPL
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Ripple's XRP token has seen modest gains in recent trading sessions, hovering around $1.08 at the time of writing on Wednesday.

The remittance token is mirroring the overall neutral-to-bullish sentiment in the crypto market, which is awaiting the Federal Reserve's interest rate decision.

Market participants widely expect the Fed to keep rates unchanged between 3.50%-3.75%, but there's a 35% probability of a 25 basis point hike according to CME's FedWatch tool.

The upgrade to Flare Network's Flare Smart Accounts (FSA) v1.3 has made it easier for XRP holders to stake and earn yield in decentralized finance, with billions of tokens now able to be connected to smart contracts through a single XRPL signature process.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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