ETH, XRP, and DOGE fell by about 3% after Moody's downgraded the US credit rating.

reported that Moody's downgraded the United States' sovereign credit rating from Aaa to Aa1, citing an expanding deficit, rising interest expenses, and a lack of political will to control spending. As a result, major cryptocurrency prices declined, with ETH, XRP, and Doge each dropping approximately 3%. Currently, ETH is trading at $2,494.35, Doge at $0.2175, and XRP at $2.38. The rating downgrade reportedly triggered market risk aversion, leading to increased U.S. Treasury yields and a decline in S&P 500 futures, affecting both traditional and crypto markets. Moody's is the third major rating agency to downgrade the U.S. rating, following Standard & Poor's (in 2011) and Fitch (in 2023). (CoinDesk)