Cryptocurrencies and stock markets continue to recover after significant declines last week. XRP leads among major cryptocurrencies with over 5% growth.
General Cryptocurrency Recovery
XRP increased by more than 5% in early trading sessions, reaching $3. This has been one of the most notable gains among the top 10 cryptocurrencies by market capitalization. Ethereum rose 2.5%, Dogecoin 2.7%, and Cardano 2.2%.
Stock Market Also Showing Growth
Following a turbulent Friday, when disappointing employment data was released, stock markets demonstrated growth. The S&P 500 and NASDAQ 100 both began to rebound, showing increases of 0.57% and 0.67% respectively.
Expectations for Rate Cuts
Traders are becoming optimistic about potential interest rate cuts in September. Odds for a 25 basis points cut stand at 71%. Meanwhile, 21% of bets predict rates will remain unchanged.
Cryptocurrencies and stock markets are recovering despite prior uncertainties. Expectations for interest rate cuts are also contributing to optimism among investors.
