$XRP is holding above $3.00 as the market waits for the Federal Reserve’s interest rate decision. While there’s potential for a 16% rebound, signs of weakening trader interest suggest a more cautious outlook.
Despite trying to recover from its July 18 high of $3.66, XRP is stuck between support at $3.00 and resistance at $3.20. A dip in Open Interest (OI) — which tracks active futures contracts — points to declining confidence among traders. OI has dropped from a July 22 peak of $10.94 billion to around $8.97 billion, showing a pullback in leveraged bets on $XRP
Th. e broader crypto market has also cooled off, with Bitcoin briefly slipping below $115,000. Profit-taking, shifting sentiment, and upcoming U.S. economic events are all likely playing a role.
Markets are eyeing Wednesday’s Fed meeting, where rates are expected to stay between 4.25% and 4.50%. However, Fed Chair Jerome Powell’s comments could influence market direction. Adding to the uncertainty are President Trump’s new tariffs, set to begin Friday, and key U.S. jobs data — all of which could stir up market volatility.
Technically, $XRP is giving mixed signals. The MACD is falling, hinting at bearish momentum, while the RSI remains steady above 50, suggesting some underlying strength.
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