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XRP Tumbles Below Weekly Low as Fed Rate Hike Expectations Build

Guavy AI Editorial Team
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XRP
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XRP has fallen below its weekly low to around $1.27 as open interest dropped by 8.60% and a Fair Value Gap at $1.19-$1.22 emerged as a key downside liquidity zone.

The selling pressure on XRP is driven by markets pricing in a Fed funds hike to 3.75-4.00%, following hotter-than-expected PPI/CPI readings and rising oil prices tied to the ongoing conflict in the Middle East.

Ripple CEO Brad Garlinghouse expressed his disappointment over the CLARITY Act's failure to advance in the Senate, which added to the pressure on XRP.

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