- XRP slid by 3.26% on Wednesday to close the day at $0.52723 amid a strengthening U.S. economy.
- U.S. durable goods orders increased by 2.6% in March, having advanced by 0.7% last February.
- Uncertainty over the potential outcome of the Ripple vs SEC case contributed to XRP’s decline.
XRP slid by 3.26% on Wednesday to close the day at $0.52723 amid a strengthening U.S. economy and growing uncertainty in Ripple’s ongoing litigation. Wednesday’s slump marked an extension in the XRP price drop after the altcoin dipped by 2.21% last Tuesday.
According to a U.S. economic report released on Tuesday, U.S. durable goods orders increased by 2.6% in March, having advanced by 0.7% last February. The report further showed that core durable goods rose by 0.2%, marking an improvement from February’s figure of 0.1%. The improved data signaled a robust U.S. economy, impacting inventors’ outlook regarding a September Fed rate cut.
Apart from XRP, several other cryptocurrencies declined on Wednesday, leading to a 2.97% drop in the overall value of the crypto market. Hence, the crypto market lost over $2.3 billion on Wednesday following the selloff.
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