What happened?
The price prediction for major crypto coins including XRP, Cardano (ADA) and Shiba Inu (SHIB) has significantly improved following the market recovery to a cap of $3.95 trillion. This recovery is largely due to expectations that the Federal Reserve will cut rates during its meeting on the 17-18 of this month. These three coins have all seen gains in the past 24 hours, laying the groundwork for a potential larger rally in the upcoming weeks.
Who does this affect?
This news directly impacts investors and traders of XRP, Cardano and Shiba Inu. The rate cut expectation from the Federal Reserve has caused a positive shift in the market, providing the three coins with the potential to reach new highs by year’s end. This provides an opportunity for current investors to potentially increase their returns and also attracts prospective investors to these cryptos.
Why does this matter?
This development has significant implications for the overall crypto market. With the market cap recovering to nearly $4 trillion, the price hike in major coins like XRP, ADA, and SHIB is likely to improve investor sentiment and could trigger a larger rally. As these coins are amongst the more popular cryptos, their robust performance could potentially influence other coins and even the greater financial market.