XRP Plunges as Federal Reserve Hawkishness Sparks Crypto Sell-Off

XRP is trading at $1.35 after falling 3.04% due to hawkish Federal Reserve commentary, which dampened risk appetite and led to a broad crypto sell-off.

The move appears consistent with a technical retest of a major support zone after a sharp rally. Traders said the market-wide risk-off shift was triggered by comments from Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium on August 28, which emphasized the focus on reducing inflation and tempered expectations for near-term rate cuts.

XRP's drop is part of a macro-driven recalibration, not a coin-specific failure. Its direction remains tied to broader crypto market sentiment.

Ripple Prime has launched a Wall Street swap desk called Delta One, which handles stocks, indexes, and cryptocurrencies under a single balance sheet. The desk integrates RLUSD as the stable digital dollar, the XRP Ledger as the settlement system, and Ripple Prime as the institutional trading and credit hub.