XRP Slides as Macro Uncertainty Weighs on Market
Ripple's XRP token continued to slide on Friday, marking its third consecutive day of declines. The cryptocurrency is tracking the broader market downturn, which is being fueled by macroeconomic uncertainty ahead of the US Consumer Price Index (CPI) release and next week's Federal Reserve monetary policy decision.
Crypto Finance analysts noted that 'With CPI this afternoon and the FOMC next week, the next few sessions will determine whether investors are right to challenge policymakers, or whether policymakers respond with more force than the market currently expects.'
Despite the decline in XRP's price, US-listed spot Exchange-Traded Funds (ETFs) recorded inflows of approximately $5 million on Thursday. This marks a three-day bullish streak and indicates persistent risk-on appetite among investors.