XRP dropped to $1.27, down 10% over 24 hours, after the Senate failed to advance the CLARITY Act and traders positioned for the Federal Reserve's rate decision. Analysts are watching $1.10 as the level that could decide whether XRP resumes its climb or extends losses toward $0.87.
XRP trades at $1.27, down 10% over 24 hours and 11.2% over the past week, after breaking a support level that had kept a rally toward $1.78 in play. The token slid from a recent $1.45 high and briefly traded below $1.23 before attempting a modest recovery.
CLARITY Act Setback Weighs on Sentiment
The Senate failed to advance the CLARITY Act after its procedural motion received only 49 votes, short of the 60 needed to continue debate. The defeat reduced expectations for comprehensive crypto legislation before year-end and sparked renewed selling across major tokens. Ripple said the result did not alter XRP's established legal standing, though short-term market confidence weakened.
Fed Decision and ETF Flows Add Pressure
Federal Reserve officials announce their policy decision Wednesday after a two-day meeting, with markets assigning roughly a 93% probability to a 25-basis-point rate hike that would lift the federal funds rate from 3.50%-3.75% to 3.75%-4.00%. Traders are watching Fed Chair Kevin Warsh's comments for signals on inflation, oil prices and further tightening. Meanwhile, spot XRP ETFs reported no net inflow on September 15, with combined assets near $1.41 billion, down from cumulative inflows around $1.68 billion built during an eleven-session winning streak.
Where Analysts See XRP Bottoming
According to Casi Trades, XRP's break below the level invalidates the pattern toward a possible run to $1.78, and lower targets stay in play until XRP breaks above $1.65 and holds it as support. She flags $1.10 as the most important level to watch; holding it keeps the door open for a move back above $2, while a break could expose $0.87, where she has a buy order placed near $0.94 as a safety cushion.
CoinGape's technical read points to similar territory: XRP must reclaim $1.28 and $1.31 to ease the downside pressure, with failure keeping focus on $1.23 and then $1.20. A decisive close below $1.20 could expose $1.14 and the $1.07 swing low, opening a wider demand zone between $0.93 and $0.76 if weakness extends. The RSI sits near 33, close to oversold territory without a confirmed reversal, while the MACD remains below its signal line and approaching negative, keeping bearish momentum in charge.
Casi Trades calls $1.10 the level XRP needs to defend right now to keep a fresh upward move alive.
Sources: Coinpedia Fintech News, CoinGape
Trading involves risk.
Risk Disclaimer
