XRP price dropped to around $1.38 on Friday, losing roughly 5% over the past 24 hours, after Federal Reserve Chair Kevin Warsh delivered a notably hawkish message on inflation during his first Jackson Hole speech. The Ripple-linked cryptocurrency had been trading as high as $1.47 before reversing lower. Warsh confirmed that the Fed continues to adhere to its 2% inflation target and could raise interest rates as soon as September if inflation fails to improve. Risk assets, including cryptocurrencies, have been negatively affected by these tighter monetary policy prospects. Despite this decline, XRP remains up roughly 39% over the past month.
Source: Read the original article
