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XRP surged more than 5% early Monday, leading a rebound in crypto majors as both digital assets and stock futures recovered from last week’s steep selloff.
The rally comes despite lingering market jitters from Friday’s weaker-than-expected US jobs report and renewed trade uncertainty tied to fresh tariffs announced by US President Donald Trump.
XRP was trading at $3 as of 5:40 a.m. EST, topping gainers among the top 10 cryptocurrencies by market cap in the past 24 hours, according to CoinMarketCap data.
Ethereum rose more than 2.5%, while Dogecoin gained 2.7% and Cardano 2.2%.
Crypto Majors All Rebound While Stock Futures Recover
The upbeat opening follows a turbulent Friday session, when disappointing jobs data and Trump’s executive order on tariff hikes rattled markets.
Still, investors are now buying the dip, with both crypto and equity futures pointing to renewed risk appetite.
Other crypto majors also posted gains. BTC edged up a fraction of a percentage, while BNB, Solana (SOL) and TRON (TRX) all posted gains of over 1%. Cardano (ADA) saw its price rise over 2%.
Meanwhile, S&P 500 Futures rose 0.57% and NASDAQ 100 Futures climbed 0.67%.
Polymarket Bettors Confident Of A September Rate Cut
After the US Federal Reserve (Fed) opted to keep interest rates unchanged for a fifth consecutive week last week, traders are becoming more optimistic that there will be a rate cut in September.
Odds for a contract on Polymarket asking if there will be a 25 basis points (bps) rate cut in September stand at 71%, while 7% of the bets believe there will be a 50+ bps decrease. Meanwhile, odds that rates will remain unchanged stand at 21%.
Ladies and Gentlemen, it looks like Trump's major pressure on Jerome Powell will work after all, Polymarket overwhelmingly believes two rate cuts will happen before the end of this year.
The economy will begin to boom in epic fashion. pic.twitter.com/pL7gby1rg2
— George (@BehizyTweets) August 1, 2025
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