XRP Tumbles as Fed Rate Decision Looms

XRP's price continued to decline on July 28 due to investor caution ahead of the US Federal Reserve's interest rate decision. Expectations of higher interest rates led investors to reduce exposure to high-risk assets, including cryptocurrencies.

The cryptocurrency fell between 3% and 5% over the past 24 hours, reflecting weakness across global markets. Analysts believe XRP's near-term direction will depend on whether it can hold above the $1.00 psychological support level.

XRP is currently trading at approximately $1.06 USD, extending its losses as selling pressure continued across the cryptocurrency market.