XRP Faces Crucial Week Ahead of FOMC Meeting

XRP is trading near $1.35 after experiencing a slight drop of 1.9% today, but still maintaining a 4.7% increase over the past week.

The token is currently testing its support zone from last week around $1.355, and while it has slipped below this level, it's not yet considered broken.

A crypto analyst notes that XRP has been holding below its short and medium-term average price levels since Friday, indicating a mildly bearish signal towards a potential target of $1.25 if weakness continues.

However, the analyst cautions against overemphasizing this view, as wider support still exists between $1.29 and $1.32, and selling pressure behind the pullback doesn't appear overly aggressive.