Ripple is accelerating its decline, focusing on US data
Ripple prices fell during trading today, Monday, in light of the focus of investors on the expected inflation data in the United States tomorrow, Tuesday.
Tomorrow, Tuesday, US consumer price inflation data for the month of January will be released, amid widespread expectations of a further slowdown in inflationary pressures.
If these expectations are correct, the Federal Reserve may find additional justification for slowing the pace of monetary policy tightening.
There is still uncertainty prevailing in global markets regarding tightening monetary policies on the part of major central banks, especially the US Federal Reserve, the European Central Bank, and the Bank of England.
This is because tightening monetary policies means withdrawing liquidity from the markets, and this liquidity was the main reason behind the rise in asset values in general, including digital currencies.
In terms of trading, the price of Ripple fell by 22:16 GMT, by 1.1%, to $0.3715, after recording losses in the past week, by 6.5%.