SOL - Why XRP Litecoin and Solana Are Rising This Week
2023-06-01 14:18:29 ET
Several cryptocurrencies rose during a bit of an up-and-down week as traders observed the debt ceiling drama and contemplated the Federal Reserve's next move on interest rates.
XRP (CRYPTO: XRP) was trading roughly 8.7% higher for the week as of 1:22 p.m. ET Thursday, according to data from S&P Global Market Intelligence . Meanwhile, the price of Litecoin (CRYPTO: LTC) was 8.7% higher, while Solana (CRYPTO: SOL) was up by roughly 6.4%.
All week, investors had speculated that the Fed is poised to raise interest rates at its next meeting later this month. Rising interest rates have generally been bad for all cryptocurrencies.
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Why XRP, Litecoin, and Solana Are Rising This Week