XRP Price Climbs 1.07% Amid Broader Crypto Market Recovery

The XRP price rose by 1.07% to $1.10 as the broader cryptocurrency market recovered, reflecting improved demand across major digital assets. The crypto market value increased by 0.9% to $2.21 trillion.

The Federal Reserve will meet on July 28 and 29 to discuss interest rate policy, which could impact equities, cryptocurrencies, and other risky markets. The recent meeting of the US equities market saw geopolitical tensions alleviate and earnings sentiment enhance, resulting in a broader market recovery.

XRP's price has also recovered from its previous range between $1.06 and $1.09, where buyers had previously repelled additional losses. If XRP breaks through the $1.10 level, it could challenge resistance between $1.13 and $1.15, potentially opening the door to $1.24 and $1.28.

Ripple's launch of Ripple Mint on July 23 has also increased institutional stablecoin infrastructure and made RLUSD more accessible to professional users. However, this does not guarantee immediate demand for XRP. Meanwhile, no net inflows were reported in XRP exchange-traded funds on July 24, with cumulative inflows remaining unchanged at $1.49 billion.