XRP Rebounds to $1.50 as Fed Rate Hike Odds Ease

Ripple's XRP price has rebounded to $1.50, outperforming a broadly positive crypto market driven by a macro-sensitive lift. The move lacks a clear, singular catalyst, but reflects eased selling pressure and steady ecosystem sentiment.

Traders note a market-wide beta move, as softer U.S. jobs data reduced expectations for Federal Reserve rate hikes and lifted Bitcoin and correlated assets like XRP. The primary driver was a weaker-than-expected U.S. September jobs report, which added only 29,000 jobs against an expected 90,000.

The probability of the Federal Reserve holding rates steady in October has surged to 83.9%, effectively delaying the real debate over monetary tightening to December. This has boosted risk assets, including cryptocurrencies, but the immediate risk lies in the U.S. Treasury market, where the 10-year yield has spiked above 5.36%.

The upcoming U.S. consumer price index (CPI) data and the Fed's October 27-28 meeting will provide further macro direction. The data shows no clear secondary driver, but contributory factors include a contraction in Binance XRP open interest and long liquidations exceeding shorts, signalling reduced forced-selling pressure.

While these factors helped prevent downward pressure and supported neutral-to-positive sentiment, the price is consolidating, awaiting a clearer directional catalyst from broader market moves or ecosystem developments.