XdRiP Development Team Releases Epic Adventure, Cryptocurrency Market Surges, and Fed’s Decision to Raise Interest Rates
The XdRiP team has just released the first part of a fantastic story leading up to the highly anticipated Medals of Honor NFT Collection. This adventure is inspired by real life events that the XdRiP family has endured on their journey to today. The XdRiP team is so excited to share this epic event. We want to encourage everyone to check out “Tales From XdRiPia, Origin Story” on our YouTube channel.
In addition to XdRiP news, the cryptocurrency market has experienced a surge in value in the past week, with Bitcoin leading the way, rising by 2.96% to US$27,929. Bitcoin’s surge is attributed to the fragile economic landscape in the U.S., which has prompted people to seek alternative ways to preserve wealth. The current bout with inflation has also made Bitcoin a prominent option for many.
XRP, the controversial cryptocurrency with ties to Ripple, has seen its market capitalization top $20 billion, and its price steadily climbing over the past week. Investors have shown a preference towards crypto-currencies due to the ongoing banking crisis. This recent surge in price has brought XRP near a horizontal resistance level, which is a technical analysis concept referring to a price level at which a crypto-currency’s upward momentum is expected to be met with significant selling pressure.
A closely-followed crypto strategist and trader is updating his short-term forecast for XRP. In a tweet, the pseudonymous analyst, known in the industry as Credible Crypto, tells his followers that XRP is not done moving higher following its ascent to a 30-day high of $0.48. He expects XRP to continue its bullish rally, with a retest/consolidation above to digest this move and then continuation. In the long-term, Credible believes that XRP is poised to print a new all-time high even amid the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple.
The Federal Reserve’s decision to raise interest rates has also been a major topic of discussion. The CME Group predicts a 76.8% chance that the Fed will raise rates by 25 basis points when the bank meets this week, an increase from 20.3% on Friday. This decision comes as the U.S. consumer price index (CPI) rose 6% on year in February, well above the Fed’s goal to keep annual inflation below 2%.
The ongoing banking crisis has contributed to a preference towards crypto-currencies, with Bitcoin and XRP gaining popularity as alternative ways to preserve wealth. It’s important to proceed with caution when investing in digital assets, however, as the market can be volatile and unpredictable.
As the cryptocurrency market continues to evolve, it’s important to stay up to date with the latest news and developments.
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