What It Could Mean for XRP as Bank of Japan Upcoming Rate Decision Nears

This week could bring more pressure on XRP and the broader cryptocurrency market as investors prepare for the Bank of Japan October policy meeting. XRP has continued to fall throughout October , and this has raised concerns about how another monetary policy change could affect its price. Although markets expect the BOJ to keep interest rates unchanged on October 30, a hawkish message could lead to fresh volatility across the crypto market. Notably, markets expect the BOJ to leave interest rates unchanged at its Oct. 29-30 meeting. Prediction market data puts the chances of a rate hold at around 96%, which would leave the policy rate at 1.25%. For context, the Bank of Japan raised rates by 25 basis points at its September meeting, just five weeks earlier.

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