XRP Briefly Surges Above $3 Amid Speculation on Federal Reserve Chair Powell’s Potential Departure

Key Points

1. XRP briefly surpassed the $3 threshold, and Bitcoin surged in response to speculation about Jerome Powell's possible removal as Federal Reserve Chair.

2. Market volatility intensified as investors speculated that a new Fed chair might adopt policies favoring increased liquidity, which could benefit risk assets like cryptocurrencies.

3. Mike Novogratz criticized calls for Powell's termination, emphasizing the importance of Fed independence for market stability and urging confidence in Bitcoin.

4. The rumor of Powell's ouster triggered mixed reactions across financial markets, including major U.S. stock indices like the S&P 500.

5. The broader economic context highlights the cryptocurrency market's sensitivity to central bank leadership and monetary policy changes.