Oh, dear reader, here we are again. XRP is trading at a thrilling $2.82-down a staggering 1% as investors quiver in anticipation of the latest Federal Open Market Committee (FOMC) minutes. How utterly exciting! The report reveals that most Fed members are in favor of more monetary easing this year. But, alas, inflation remains the boogeyman under the bed. 🎃
The federal funds target range is sitting pretty at 4.00% to 4.25%, following a 25 basis point cut in September. Oh, joy! The first reduction of 2025, right on time for the holiday season, and amid those delightful rising concerns about employment. The minutes? A near-even split on future moves, with 10 out of 19 participants expecting not one, but TWO more cuts this year. How thrillingly ambiguous. 🧐
XRP Price Action
This week, the poor dear XRP has had a rather weak showing. On Monday, when broader markets decided to flex their muscles, XRP couldn’t quite keep up and failed to break above the 90-day rolling VWAP. How utterly embarrassing! It rejected that level faster than a bad date and fell back down. Tuesday saw XRP moving lower, joining the markets on a little trip to the $2.86-$2.88 range, which was so very predictable. 😬
The initial reaction to the FOMC minutes? A little yawn. XRP briefly bumped up but found itself met with resistance at the fair value gap, like a wallflower at a party, and was promptly left below $2.85. Naturally, this is just part of the market’s usual charm, so no need to panic, darling. It doesn’t mean XRP is weak. It’s just playing hard to get. 💅
Support Levels
Technical charts show solid support around the luxurious $2.80 mark. Additional support, for those who need it, lies near $2.78-$2.76. These levels might just hold if XRP can manage to stay upright against Bitcoin’s antics.
Now, the relationship between XRP and Bitcoin is crucial, dear. If the XRP/BTC pair can hold support, XRP will recover like a champ. But if Bitcoin falls further, prepare for XRP to test lower levels before giving us that classic bounce. 🕺
Upside Targets
If the support levels are still doing their job, XRP could aim for a daring leap towards $2.95. A push above that would clear the fair value gap and signal a delightful short-term recovery. Not that we’re getting too optimistic here, darling. 🙄
But let’s be honest-momentum is rather restrained compared to other sprightlier altcoins. So, don’t expect any wild gains unless the market decides to throw a party. 🎉
For those with an eye on the long term, analyst Casi Trades says, “Currently, subwaves are being constrained, which is why extensions are stuck at $4.50 and $6.50. But don’t you worry, darling, the macro targets of $8-$13 remain tantalizingly possible if momentum continues its flirtation!”
Market Outlook
XRP is still in its consolidation phase, like a cat that can’t decide if it wants to nap or chase a mouse. The key levels to watch are $2.80-$2.76 on the downside, and a tantalizing $2.95 on the upside. What happens next? Well, that depends entirely on Bitcoin’s mood and how the market reacts to the Fed’s latest performance. 🎭
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2025-10-09 16:39