XRP Leads Crypto Market Recovery. What’s Behind This Rally?

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$XRP is up almost 6% over the last 24 hours

The Ripple-affiliated token managed to reclaim the $0.50 mark on major spot exchanges.Major cryptocurrencies experienced a sudden drop on Thursday together with stocks due to hotter-than-expected inflation data. The U.S.

Federal Reserve is now almost guaranteed to implement another 75-basis-point rate hike next month after the most recent consumer price index index. Major stock market indices experienced an extremely sharp turnaround yesterday. The Dow surged a staggering 1,500 points from its intraday low, closing 800 points higher. In fact, the S&P 500 index recorded its widest trading range since 2000.

 

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