Waller Cooled Rate Hike Fears and Bitcoin Cleared $81,000. Does XRP Follow?

Fed Governor Waller just gave crypto traders a reason to cheer, but XRP faces a Senate vote and a rate decision landing one day apart, and only one outcome removes both obstacles holding it back from Bitcoin's gains.

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The XRP (CRYPTO:XRP) price trades at $1.45, up about 5% over the past week and 37% over the past month, after Federal Reserve Governor Christopher Waller said on Thursday that he would support holding rates steady this month. Bitcoin (CRYPTO:BTC) cleared $81,000 in the same session, and the XRP price moved with it.

Waller’s exact words were “give disinflation a chance,” and he added that the Fed “can wait one meeting.” Markets had priced a 67% chance of a hike on September 16 before he spoke, and that fell to 55% by the close.

However, XRP has spent the year trailing Bitcoin, down 48% over twelve months against Bitcoin’s 27%. So would the XRP price follow Bitcoin if the Fed pauses, or would it wait for the CLARITY Act vote on September 15?

What Waller Said and Why It Lifted XRP

The XRP price rose on one number in Waller’s speech. Three-month core inflation fell from 4.76% in February to 3.05% through July, which he read as disinflation taking hold, and he said hiking a quarter point now would not bring CPI to 2% any faster. However, he would only support a hold if the inflation data confirms the trend, and CPI and PPI both come out next week.