Crypto
XRP Surges on Relief Rally After Fed Rate Hike Delay
The price of XRP rose by 1.89% to $1.32 on Friday, following a broader market rally driven by a relief rally after the Federal Reserve's expected interest rate hike.
The Fed raised interest rates by 25 basis points on September 16, its first hike since 2023. The markets interpreted this move as a 'mid-cycle adjustment' rather than aggressive tightening, sparking a risk-on rally.
XRP's gain was not due to a coin-specific catalyst but followed the broader market's positive reaction to clarified monetary policy.
The total crypto market cap rose 2.22%, with Bitcoin up 1.67%. XRP's nearly identical move was driven by this macro sentiment shift, and modest institutional flows provided relative support.