Why is XRP price down today? By Cointelegraph

XRP’s price is down today, mirroring trends elsewhere in the cryptocurrency market as investors de-risk after Federal Reserve Chairman Jerome Powell’s hawkish statements at Jackson Hole.

On Aug. 25, the XRP (XRP) price dropped 1.25% to $0.507, slightly underperforming the crypto market, whose capitalization fell 1% in the same period. This coincided with the (DXY) rising to a two-month high, suggesting investors are increasingly seeking safety.

vs. DXY (blue) and crypto market capitalization (orange) daily performance chart. Source: TradingView
XRP supply distribution among entities with a 100,000-plus token balance. Source: Santiment
XRP/USD daily price chart. Source: TradingView