XRP falls amid China's push for domestic chips

China’s state-backed chip giant CXMT just proved that Western semiconductor dominance is a house of cards. Its IPO surge didn't just crush Samsung and SK Hynix—it sent XRP tumbling to $1.05. If a single Chinese firm can trigger a global "leverage flush" and wipe out billions in AI and crypto value overnight, the narrative of a decoupled market is dead. XRP's utility doesn't matter when Chinese tech moves the needle this hard. Is crypto actually just a proxy for the US-China chip war?
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