XRP News Today: Crypto Sell-Off Deepens, XRP Faces Key $2.8 Support Test; BTC at $112k
Bitcoin Slides Below Crucial Support amid Jackson Hole Jitters
While XRP extended losses on spot XRP ETF disappointment, Bitcoin (BTC) closed below the key $115,000 support level for the first time since August 5. Recent inflation-linked US economic data has fueled uncertainty about the Fed’s policy stance ahead of the Jackson Hole Symposium.
Fed Chair Powell will speak on Friday, August 22. The Fed Chair may signal a delay to interest rate cuts to continue assessing the impact of tariffs on import prices and inflation.
Delays to Fed rate cuts would keep borrowing costs elevated and strengthen the US dollar, impacting BTC’s store of value position. On the other hand, support for multiple Fed rate cuts could soften the US dollar,…
