Why is XRP trace down right now time?

Why is XRP trace down right now time?

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XRP (XRP) trace is down right now time, mirroring trends in other places within the cryptocurrency market as traders look ahead to the Federal Reserve price resolution within the week.

On July 24, XRP trace dropped 8% to $0.68, underperforming the crypto market’s 3.5% decline on the the same day. The XRP/USD pair declined amid rising expectations that the Fed would elevate hobby rates by 25 foundation parts in its July 25–26 meeting.

<em>XRP/USD vs. the crypto market's day-to-day performance chart. Source: TradingView</em>
<em>The day-to-day correlation coefficient between DXY and XRP. Source: TradingView</em>
<em>XRP/USD weekly trace chart. Source: TradingView</em>

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