XRP Jumps 17% Outperforms Rest of the Market as Rally Cools; Trader Thinks $120K Bitcoin Target Still in Play

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XRP Jumps 17% Outperforms Rest of the Market as Rally Cools; Trader Thinks $120K Bitcoin Target Still in Play
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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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The market is now pricing in a 66% chance of a 25 basis point cut in the December FOMC meeting, down from Thursday’s 83%.XRP zoomed 17% in the past 24 hours to beat gains in bitcoin {{BTC}] and majors, as shifting U.S. regulatory climate supported growth in tokens previously hampered by the Securities and Exchange Commission’s actions.

SEC and commissioners, including chairman Gary Gensler, accusing them of unconstitutional overreach of the crypto industry. Meanwhile, BTC and majors slid as much as 4% amid profit-taking in late U.S. hours Thursday, an expected market reaction following several days of growth.

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