Why is XRP value down immediately?

XRP’s value is down immediately, mirroring tendencies elsewhere within the cryptocurrency market as traders de-risk after Federal Reserve Chairman Jerome Powell’s hawkish statements at Jackson Gap.

On Aug. 25, the XRP (XRP) value dropped 1.25% to $0.507, barely underperforming the crypto market, whose capitalization fell 1% in the identical interval. This coincided with the (DXY) rising to a two-month excessive, suggesting traders are more and more looking for security.

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