XRP: here's why this week might be 'big,' according to this analyst $XRP RippleXRP XRPholders XRPArmy XRPCommunity XRPthestandard
as the XRP price made a faint rebound from its Oct. 12 lows of $0.477. At the time of publication, XRP was changing hands at $0.48, down 0.64% in the last 24 hours.
The crypto market saw another selling bout as prices paid to U.S. manufacturers increased more than anticipated in September. This might imply that it could take some time for inflationary pressures to abate, keeping the Federal Reserve on its aggressive path of interest rate hikes. According to Labor Department data released on Wednesday, the producer price index for final demand was up 0.4% from August, marking the first gain in three months, and it was up 8.5% from a year ago. In September, the so-called core PPI gained 0.3%, moving up 7.2% from the previous 12 months.
The minutes from the Fed's latest meeting are due later on Wednesday, followed by U.S. consumer price index data on Thursday, which is expected to remain persistently high.
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