Coin-Turk 15 minutes ago
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The cryptocurrency market has concluded its recent upward trend with a significant correction. Following the launch of Ripple’s RLUSD stablecoin, the price of XRP dropped by 15%. Traders are trying to understand the reasons behind this decline.
The Role of RLUSD Launch in XRP’s Decline
Ripple 
$2 launched its stablecoin, RLUSD, on December 17. This launch initially caused XRP’s price to surge to $2.8 on the day of the launch. However, shortly after this spike, the price sharply retreated. Market participants attribute this volatility to both the post-launch market reaction and broader economic developments.
The Federal Reserve’s decision to lower interest rates by 25 basis points has increased pressure on the cryptocurrency market. Assets like XRP exhibited downward movement following this announcement. Market expert Ali commented, “The Fed&r…
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