By Elsa Ohlen
XRP, Bitcoin and other cryptos were falling early Monday, suffering from fears that the monetary easing cycle may not continue at pace this year.
The price of the world's largest digital coin, Bitcoin, is down 0.9% over the last 24 hours to last trade at $93,248.
XRP, another popular cryptocurrency which is used to settle transactions on Ripple's payment platform, fell 3.2% to $2.45.
On Friday, cryptocurrencies were hit by a hotter than expected U.S. jobs report. As crypto prices tend to fall when the prospect of higher interest rates increases, and the jobs report fueled investor fears that the Federal Reserve may keep rates higher for longer, crypto investors felt the pressure.
"The cutting cycle is over," BofA analysts wrote Friday after the December jobs numbers.
The next Federal Open Market Committee (FOMC) meeting takes place on Jan. 28-29 and investors are increasingly confident the central bank will hold interest rates steady.
Among other cryptocurrencies, Ether is down 2% over the last 24 hours, while Solana is down 2.5% and Dogecoin 3.1% lower.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 13, 2025 05:13 ET (10:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。