Cryptocurrency News Today TheBitTimes.com

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

In just a matter of hours on Thursday, August 14, XRP’s market capitalization dropped from $192.28 billion to $182.73 billion, erasing nearly $10 billion in value.  The token is trading at $3.13 at the time of writing, down 3.88% on the daily chart, although it’s still up 2.47% this week following Ripple’s legal victory, according to CoinMarketCap . Hardly an isolated incident, it appears that the drop was largely a consequence of the U.S. Government’s newly reported inflation data showing the highest increase percentage since June 2022. XRP price and market cap. Source: CoinMarketCap Crypto market takes a hit following inflation reports Multiple U.S. risk assets tumbled today as new inflation data led to fresh concerns regarding Federal Reserve cuts. The July Producer Price Index (PPI) jumped 0.9% since June, well above the 0.2% forecast. On a year-over-year basis, it rose 3.3%, also above 2.5% expectations and June’s 2.4%.  Core PPI, which st...