Bearish
XRP price drops 5% to $1.39 amid hawkish Fed remarks and ETF inflows.
XRP's price declined by 5% to $1.39 following Federal Reserve Chair Kevin Warsh's hawkish comments on inflation, which led to a broader market sell-off. Despite this, XRP exchange-traded funds (ETFs) attracted significant institutional interest, with $26.2 million in net inflows on August 28, indicating strong demand for the token.
Key points
- XRP's price fell 5% to $1.39 after Fed Chair Warsh's inflation concerns.
- XRP ETFs saw $26.2 million in net inflows on August 28, signaling strong institutional demand.
- XRP's August gain of approximately 30% brings it halfway back to the $3 level, with several resistance layers ahead.
Sources
AI-generated from public news sources. Not financial advice.
