XRP does not exceed $2.67, declining alongside Bitcoin as updated Fed rate cuts drive further crypto market retraction.Â
XRP experienced a sharp rejection of resistance around $2.67. The price of the token fell to approximately $2.59 on the booming trading volume. This price movement is coupled with the fact that Bitcoin and the crypto market generally fell after the news of Federal Reserve rate cuts. Â
The volume shot up to about 393 million tokens, 658% higher than the average. This burst in volume was coupled with the unsuccessful breakout, implying that there is a lot of selling pressure. Â
On-chain information shows that high XRP accounts are dumping, which may be an indication of profit-taking as futures open interest is still high at approximately early-2025 highs of approximately 2.9billion.
Overhead Resistance Holds Strong
The $2.67-2.69 area has become a major supply zone. The support is around $2.58 and also close to the 200-day exponential moving average of about 2.61. Â
Traders are advised to monitor these areas as breaking the price below 2.58 may lead to increased selling. On the other hand, a support rebound may seek to retest the resistance on the overhead or the upper levels of about $2.70 to $3.00.
Fed Cuts Amplify Market Volatility
The decline of Bitcoin amid the Fed’s easing policy propagated ripple effects among other altcoins such as XRP. Â
With the Fed facing expectations of a 25-basis-point rate cut, the crypto market, with Bitcoin leading, experienced some signs of correction. The failure of the XRP at resistance increased the risk of a more significant pullback. Â
Momentum indicators depict bearish movements; divergent RSI and MACD indicate that the momentum is deteriorating, even though the price is increasing. Â
There is institutional interest, but the sale of whale wallets implies that profit-taking is prevailing over new accumulation now. Â
The next few days will be critical: on-chain flows, futures action, and volume spikes will show whether XRP is correcting temporarily or beginning a bigger decline.
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