The Federal Reserve’s rate hike is considered to be one of the biggest catalysts in the likely decline of XRP.
Despite expectations that Ripple would finally succeed in its protracted legal battle with the SEC, the price of XRP appears to be fluctuating between gains and losses.
On its Sept. 19 daily candlestick, the XRP/USD pair formed unusually strong bullish and bearish wicks, hinting at a growing bias disagreement among traders as the pair fell by over 1% to $0.35. This was likely brought on by XRP’s exposure to catalysts other than the SEC case, specifically the possibility of a hike in the Federal Reserve’s interest rates.
XRP is now up 7.44% over the past 24 hours and 20.81% over the past week, trading at $0.4074.