XRP Price Could Plummet Below $1.30 with Fed Rate Hike

The Federal Reserve's potential rate hike has investors worried about its impact on cryptocurrency markets. A recent analysis by ChatGPT suggests that XRP could be particularly vulnerable, with a predicted decline of 4-8% in response to a 25 bps increase.

According to ChatGPT, the current odds on prediction markets for a rate hike in September are over 50%, and this has already been felt in the market. On Friday, XRP dropped from $1.45 to under $1.40 after the jobs report, and could potentially dip below $1.30.

The CLARITY Act, which is expected to vote on its passage just before the FOMC meeting, has not made significant progress lately and may not provide the support that XRP needs in this situation.