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ETH, DOGE, XRP Down 3% as Moody’s Downgrades U.S. Credit Rating

May 17, 2025Updated:May 17, 2025No Comments2 Mins Read
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ETH, DOGE, XRP Down 3% as Moody’s Downgrades U.S. Credit Rating
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ETH, DOGE, XRP Down 3% as Moody’s Downgrades U.S. Credit Rating

Main tokens slumped Saturday as traders digested the implications of Moody’s Scores downgrading the U.S. credit score rating, with ether (ETH), XRP, and dogecoin (DOGE) dropping roughly 3%.

The broader crypto market held at $3.3 trillion, paring earlier positive factors after briefly touching the week’s excessive.

The transfer got here after score big Moody’s reduce the U.S. sovereign credit standing to Aa1 from Aaa, citing the nation’s swelling deficits, rising curiosity bills, and an absence of political will to rein in spending.

The agency now joins Fitch and S&P in assigning a score under the once-unblemished triple-A standing lengthy held by the world’s largest economic system.

As such, the White Home was fast to reply, with spokespersons for President Donald Trump criticizing the choice as politically motivated.

The downgrade had a right away impact on conventional markets: U.S. Treasury yields jumped, with the 10-year be aware rising to 4.49%, whereas S&P 500 futures dipped 0.6% in after-hours buying and selling.

Traditionally, considerations about U.S. debt sustainability and greenback debasement have served as tailwinds for bitcoin and different decentralized belongings. Nevertheless, credit score downgrades may set off short-term risk-off habits, notably if macro uncertainty leads institutional merchants to cut back publicity.

In the meantime, some merchants warned of a deeper sell-off within the close to time period on normal profit-taking earlier than the subsequent rally.
“Bitcoin is holding the $104,000 mark as a key stage and the constructive issue is that sellers haven’t but managed to grab management of the market,” Alex Kuptsikevich, the FxPro chief market analyst, advised CoinDesk in an e mail. “Nevertheless, resilience at excessive ranges could also be momentary earlier than the subsequent bounce, and there’s appreciable stress close to the higher boundary of the present vary.”
“In different phrases, the short-term outlook suggests a decline from present ranges,” Kuptsikevich opined.



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