XRP News Today: Fed Doubt and Global Regs Spark $1T Crypto Collapse

Bitcoin's price plummeted below $92,000 on Friday, triggering a widespread selloff across the cryptocurrency market and erasing nearly $1 trillion in value since its October peak. The sharp decline, one of the largest intraday drops in recent weeks, has dragged major altcoins like Solana, XRP, and Cardano into double-digit weekly losses. Analysts warn of a potential deeper correction into the $80,000–$86,000 range if panic-driven selling accelerates.

The collapse comes amid shifting expectations about Federal Reserve monetary policy. Traders now see a 51% chance of a December rate cut, down from 63% earlier in the week, as Fed officials signaled caution over inflation. This uncertainty has rippled across global markets, with Asian indices like Japan's Nikkei and South Korea's KOSPI falling sharply alongside Bitcoin. The crypto market's woes are compounded by regulatory scrutiny in Japan and ongoing volatility in derivatives markets, where open interest remains below October's $12 billion peak.

Amid the turmoil, XRP's recent 14% weekly drop has sparked speculation about a potential rebound. New spot XRP ETFs from major firms like Grayscale and Franklin Templeton could attract institutional capital, with one analyst forecasting a rally to $2.75. However, short-term bearish sentiment persists, as whale activity—selling 200 million XRP in the first 48 hours after ETF launches—has pressured prices.

The broader crypto market has now shed $1 trillion since hitting a record $3.2 trillion in October. Alex Kuptsikevich of FxPro noted that the market has confirmed a bearish trend, with further declines of 20%—or another $1 trillion—possible if historical stock market patterns apply. Arthur Azizov of B2 Ventures highlighted the $89,000–$94,000 support zone as critical, warning that a breakdown could send Bitcoin back to levels last seen in April 2025.

Regulatory and macroeconomic factors continue to dominate investor sentiment. The Fed's recent hawkish stance has dampened risk appetite, while Japan's potential crackdown on crypto treasury companies has added to uncertainty. Meanwhile, the U.S. economic data calendar remains sparse, leaving traders without clear signals to anchor their decisions.