ETH, DOGE, XRP Dip as U.S. Credit Rating Takes a Hit

The crypto market saw a mild pullback on Saturday after Moody’s downgraded the U.S. credit rating from Aaa to Aa1, joining Fitch and S&P in marking a significant shift in global financial confidence. Ether (ETH), Dogecoin ($DOGE ), and $XRP all dropped around 3% in response.

Moody’s cited ballooning deficits, rising interest costs, and political gridlock as reasons for the cut—sparking a quick reaction from the White House, which dismissed the move as politically charged.

The broader crypto market still held strong at $3.3 trillion, even after losing some of its weekly gains. While credit downgrades have historically boosted decentralized assets like Bitcoin, this one triggered a risk-off reaction, with traders pulling back.

Bitcoin$BTC

stayed firm around $104,000, showing resilience, but analysts warn it could be temporary. FxPro’s Alex Kuptsikevich noted, “There’s still pressure near the top of the range, and we might see a dip before the next rally.”

For now, eyes remain on how markets digest this downgrade and whether crypto can continue to shine as traditional finance wobbles.

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