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The Federal Reserve keeps interest rates unchanged, and cryptocurrencies show a mixed response.
The U.S. Federal Reserve has confirmed that it will keep interest rates steady, in line with market expectations. The Chairman of the Board, Jerome Powell, stated that economic conditions do not warrant a rate cut at this time. Cryptocurrency markets, including XRP, experienced slight declines following the announcement.
Cryptocurrency investors closely monitor interest rate policies. A decrease in interest rates may drive funds towards high-risk assets, including cryptocurrencies. As borrowing costs decline, more capital flows into markets such as cryptocurrencies, while traditional saving methods become less appealing.
On the other hand, the stability of interest rates may slow these flows. The resilience of XRP above $2.10 indicates that Ripple whales and other large holders of the currency.