XRP Price Analysis: Can XRP Reach New Highs After Recent Market Activity?
XRP is currently trading at $2.82, experiencing a slight decrease of just over 1% as investors react to the latest Federal Open Market Committee (FOMC) minutes. The report indicates that most Fed members are in favor of further monetary easing this year, with inflation being cited as the main risk.
Following a 25 basis point cut in September, the federal funds target range now stands at 4.00% to 4.25%. This was the first reduction of 2025 and came amidst growing concerns about employment. The FOMC minutes reveal a nearly even split on future moves, with 10 out of 19 participants anticipating two more cuts before the year ends.
XRP Price Action and Market Outlook
This week has seen some weakness in XRP’s performance. Despite broader market movements on Monday, XRP failed to break above the 90-day rolling VWAP and subsequently pulled back. On Tuesday, XRP moved lower in tandem with the markets, testing the $2.86–$2.88 range, aligning with previous forecasts.
The initial response to the FOMC minutes was relatively muted, with XRP briefly edging up before meeting resistance at the fair value gap, keeping the token below $2.85. While this may seem like a sign of weakness, it is a normal occurrence within the current market structure.
In terms of support levels, technical charts indicate strong support around $2.80, with additional support levels at $2.78–$2.76. These levels could hold if XRP stabilizes against Bitcoin, with the performance of the XRP/BTC pair being crucial for potential recovery.
Upside Targets and Analyst Predictions
Once support levels hold, XRP could potentially move towards $2.95. Breaking above this level would clear the fair value gap and signal a short-term recovery. However, given the limited momentum compared to other altcoins, aggressive gains are unlikely without broader market strength.
Analyst Casi Trades has suggested that while subwaves are currently constricted, limiting extensions to $4.50 & $6.50, macro targets of $8–$13 are entirely possible if momentum remains strong.
In conclusion, XRP is currently in a consolidation phase, with key levels to watch at $2.80–$2.76 on the downside and $2.95 on the upside. The next move will largely depend on Bitcoin’s trend and the market’s reaction to the Fed’s policy decisions.
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