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XRP Is Rising Today -- Is the Cryptocurrency a Buy?

XRP (CRYPTO: XRP) is moving higher thanks to some positive-looking developments on the macroeconomic front and a potential coin-specific catalyst trading. The cryptocurrency's token price was up 2.4% over the previous 24 hours of trading as of 5:45 p.m. ET. After comments from President Donald Trump yesterday indicating that tariffs on Chinese products would come down substantially, Reuters reported today that the administration was open to lowering import taxes on the country's goods from 145% to between 50% and 65%.

Fed's Hammack sees more runway for Fed balance sheet cuts

NEW YORK (Reuters) -Conditions still support ongoing reductions in the Federal Reserve's balance sheet, Cleveland Fed President Beth Hammack said on Wednesday, as she also noted that amid great uncertainty now is not the time to change monetary policy. Hammack, at a meeting of the Money Marketeers of New York University, spoke at length on her views on the Fed's balance sheet. "We still appear to have more than enough reserves in the system so that active management isn't needed," Hammack said.