XRP Tumbles to $1.30 Amid CLARITY Act Defeat and FOMC Rate Hike

XRP's price has fallen to around $1.30 after two significant market events weighed on the token. The US Senate failed to advance the CLARITY Act in a 49-50 procedural vote, and the Federal Open Market Committee (FOMC) raised interest rates by 25 basis points to 3.75% to 4.00%. As a result, XRP's chart has weakened, but it remains above its 50-day exponential moving average (EMA) near $1.284 and 100-day EMA near $1.256.

Despite the setbacks, XRP exchange-traded funds (ETFs) have continued to attract net inflows, with a total of approximately $47.06 million in cumulative net inflows across visible September sessions. However, falling open interest shows that leverage has been flushed from the market, reducing the risk of another large liquidation cascade.

The current support zone for XRP is between $1.25 and $1.28, with a confirmed breakdown potentially leading to a deeper decline towards $1.10. If buyers can defend these levels and rebuild momentum, XRP could aim for $1.35 to $1.40.