XRP Soars on Rate Hike Odds Drop, Eyes $1.80 Target

XRP has surged by nearly 6% in the past 24 hours after odds of a rate hike for September dropped, sending shockwaves through the market.

This move follows comments from Federal Reserve Governor Cristopher Waller, who expressed his preference to keep rates unchanged during the next FOMC Committee meeting due to signs of 'disinflation' in the United States.

The crypto market reacted swiftly, with XRP bouncing off its recent lows of $1.32 and confirming a strong bounce off a key support level we had identified as crucial for this latest pullback.

XRP-linked exchange-traded funds (ETFs) saw significant inflows in August, totaling $159 million, and could attract around $300 million this month if the uptrend continues.