The US Federal Reserve’s upcoming policy update has sent shockwaves through global markets, with XRP being one of the tokens most closely watched. Despite market expectations pointing to a rate hold, traders are focusing on Fed Chair Jerome Powell’s tone and potential future easing.
Most analysts believe the Fed will keep interest rates steady, with CME data showing a 99.1% chance of no change. However, if Powell sounds cautious or provides a vague timeline, it could shift market expectations quickly, impacting assets like XRP.
XRP has shown resilience in recent trading, even during a market lull. The token’s price has been stuck above $2.10 on the daily chart, forming a tight range that often precedes a breakout. If Powell opens the door to September rate cuts, it could trigger renewed appetite for risk assets, coinciding with XRP nearing a key technical inflection point.
XRP is at a critical juncture, with two possible outcomes: a 24.88% gain to $2.66 if it breaks through to the upside or a 24.41% drop to $1.61 if it breaks down. The range is defined, and the stakes are clear – will XRP make its move now?
Source: https://u.today/xrp-on-verge-of-move-of-the-year-ahead-of-fed-rate-decision