With the boarder equity markets declining ahead of key interest rate decision, XRP rose 8% leading the gain in crypto markets. By shauryamalwa
XRP rose as much as 8% in the past 24 hours to lead recovery among crypto majors as broader equity markets declined ahead of key interest rate decisions this week.said in a filing to the U.S. Securities and Exchange Commission
In a 2020 suit, the SEC accused Ripple of misleading XRP investors by failing to register its tokens as a security and not providing adequate disclosure – a claim that Ripple continues to defend. On Tuesday, the pan-European stock index Stoxx 600 fell 0.59% – reaching levels previously seen in the first week of July. U.S. tech-heavy Nasdaq 100 rose 0.76% in pre-market trading, pointing to gains when the New York session opens. Asian markets rose, with Hong Kong’s Hang Seng closing 1.16% higher amidThat recovery came on the back of a decline in equity markets Monday amid fears among traders expecting outsized higher rate hikes, with the U.S.
Meanwhile, some market observers said the possibility of the Fed hiking rates by an entire point was still on the cards.