XRP Down 1.36% as Macro Headwinds Dampen Risk Appetite

XRP (XRPUSD) experienced a sudden decline of 1.36% on September 29, dropping to $1.4744. This comes after a 6.18% drop over the past week.

The downtrend is attributed to broader macroeconomic headwinds that dampened risk appetite across the digital asset market. The rise in benchmark U.S. Treasury yields and the strength of the U.S. dollar index created restrictive liquidity conditions, leading to a decline in short-term capital allocations to non-yielding asset classes.

The push towards defensive positioning also led to selective deleveraging across major altcoin pairs, further exacerbating the downside pressure on XRP. This was partly due to localized profit-taking following its recent rally toward key overhead technical resistance levels.