Crypto Market Down, XRP, XLM at Key Support

The cryptocurrency market has experienced a downturn due to recent US inflation data and changing expectations around the Federal Reserve's monetary policy decisions. XRP and XLM have entered critical price ranges that could influence their short-term direction.

XRP traded near $1.32, registering a 5.13% decline over 24 hours, while XLM fell 4.54%. Financial analyst Tyler Hill noted that this market weakness extended well beyond these tokens.

Hill observed that the whole entire market is now factoring in a potential Fed move to constrain liquidity, pointing to red numbers flashing across major asset classes.

XRP and XLM are testing key support zones. If they rebound from these levels, especially with renewed bullish divergence supporting the move, XRP could target resistance around $1.50 and potentially higher.