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In the Ripple to Dollar pair, XRP is the base currency and the USD is the counter currency, which means the XRP/USD chart shows how much Ripple is worth as measured against the USD.
The US dollar is the world’s most influential currency, which makes up 61 per cent of all central bank foreign reserves. The US dollar also dominates the Forex market – it is involved in almost 90% of all forex transactions. Together with Euro, USD and constitutes over 80 per cent of the world’s currency reserves.
The value of the US dollar is directly affected by the US Federal Reserve policy. Outstanding political events could also lead to a decline in the value of the dollar.
Those interested in XRP/USD pair trading, should keep a close watch of crypto market news as well US Fed’s releases regarding interest rates and monetary policy changes.
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