XRP faces short-term bearish pressure as a ledger upgrade, potential Fed rate hikes, and stalled legislative progress on the Clarity Act threaten to undermine investor optimism.
The article argues that three anticipated catalysts for XRP in September are likely to be negative, including a ledger upgrade that may reduce fee intake, a likely Fed rate hike, and low odds of the Clarity Act passing.
XRP holders expecting a September rally face potential disappointment as three key catalysts appear increasingly bearish. Analysts warn that a pending ledger upgrade may erode fee revenue, while a 70% probability of a Federal Reserve rate hike and low legislative odds for the Clarity Act threaten to dampen market sentiment.
While the upgrade improves efficiency, it risks further reducing the network's already low fee intake, similar to trends observed in Ethereum following capacity-expanding updates.