XRP's Monday Rally Crumbles Amid Market Downturn

Ripple's XRP has dropped by 4.5% today after a Monday rally that didn't last long, plummeting from $1.11 to $1.05.

The market-wide downturn is attributed to investors reducing their exposure to risk-on assets like crypto ahead of the next Federal Reserve FOMC meeting, where an interest rate decision will be announced tomorrow evening.

The rejection at $1.11 led to a loss of a crucial support zone at $1.08-$1.10, causing XRP's drop to trigger large wave liquidations that created a snowball effect for further decline.

Despite the modest ETF net inflows remaining in the green, worth under $600,000, it was insufficient to prevent price losses for XRP.