Yen intervention threats and fading Fed cut bets pushed XRP below $1.90, reviving fears of a broader yen carry trade unwind. Sticky US inflation jitters overshadowed strong Q3 GDP growth, dampening risk appetite and pressuring XRP amid shifting Fed expectations. Despite bearish EMAs, strong ETF demand and regulatory optimism support medium-term XRP targets of $2.5 to $3.0. XRP News Today Yen intervention fears sent XRP lower on Tuesday, December 23, amid lingering fears of a yen carry trade unwind.
Fading bets on a March Fed rate cut sent XRP to a session low of $1.8631. Robust demand for XRP-spot ETFs failed to cushion the downside, underscoring market sensitivity to Fed and Bank of Japan rate paths. XRP-spot ETFs reported net inflows of $43.89 million on Monday, December 22, as ETF issuers extended the inflow streak to 26 consecutive sessions. Despite Tuesday’s pullback, the price outlook remains constructive.
Legislative developments, a resilient US economy, and strong demand for XRP-spot ETFs remain key tailwinds. BTC, ETH, XRP, and XAUT benefit from the ‘new economy’ narrative, but expect volatility from inflation concerns. XRP tumbled from $0.6591 on July 31, 2024, to $0.4320 on August 5, 2024, as markets reacted to the BoJ-induced yen rally. XRP fell 1.62% on Tuesday, December 23, following the previous day’s 1.0% loss, closing at $1.8724.
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