XRP Surges Above $1.38 Ahead of Fed Decision

Ripple's XRP token is showing signs of bullish momentum as it rises above $1.38, mirroring the broader cryptocurrency market.

The token bounced back from its near-term support level at $1.33, prompting bulls to regain control and potentially paving the way for a breakout above $1.40.

Volatility is expected to remain high this week as the US Senate votes on the CLARITY Act on Tuesday and the Federal Reserve announces its monetary policy decision on Wednesday.

The market is pricing in an 88% chance of a Fed rate hike, which would raise interest rates to 3.75%-4.00%, according to the FedWatch tool.