The three major US stock indices closed slightly lower on Thursday (1/16), with only the semiconductor index rising 0.18% supported by TSMC. The market is cautious before Trump's official inauguration. Bit continues to hover around $100,000, with the top 10 cryptocurrencies performing best, with XRP being affected by the progress of the Ripple and SEC lawsuit, as well as rumors that Trump is considering establishing a cryptocurrency reserve using tokens such as USDC, SOL and XRP, with SOL also seeing a 2.8% increase in 24 hours.
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ToggleUS economic data is mixed, Fed Governor Waller does not rule out a rate cut in March
The number of initial jobless claims in the US last week increased more than expected, but the 4-week moving average fell to the lowest level since April, indicating that the number of layoffs is gradually decreasing.
US retail sales rose 0.4% month-on-month and 3.9% year-on-year in December, slowing from the previous three years, but still exceeded the significantly slowed expectations under the pressure of high prices and borrowing costs. Consumer and business confidence has been rising since the election, but inflation expectations have also risen, so whether higher confidence will translate into higher spending remains to be seen.
Fed Governor Christopher Waller said that if inflation data continues to cooperate, officials may cut rates again in the first half of 2025, and he does not completely rule out a rate cut in March.
XRP continues to surge, is Trump considering creating a cryptocurrency reserve using USDC, SOL and XRP?
According to a New York Post report citing informed sources, Trump is open to creating a US-centric cryptocurrency reserve, prioritizing tokens such as USDC, SOL and XRP.
XRP hit a new high of around $3.38 yesterday, the first time since January 2018, with a 7-day gain of 42%. SOL also saw a 2.8% increase in 24 hours.
In addition, the favorable progress of the legal battle between Ripple and the US Securities and Exchange Commission (SEC) and the increasing adoption of the RippleNet payment network by more institutions have also contributed to the surge in XRP.
(XRP continues to surge! SEC appeal content exposed, trying to overturn Ripple's ruling)
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