XRP dropped to $1.05 on Wednesday, hitting the bottom of its recent intraday range, as the Federal Reserve's two-day policy meeting got underway. The broader crypto market also softened, with Bitcoin slipping to around $63,450 after briefly trading above $64,900. XRP is down about 5% over the past 24 hours, trading near $1.5 earlier in the week.
XRP tests key support at $1.05
The $1.05 level is immediate support for XRP. A break below that could expose the $0.95 to $1.00 zone. Near-term resistance sits around $1.18 to $1.20. Seven US spot XRP ETFs have been trading since late 2025. Inflows have cooled from earlier this year but haven't turned into sustained outflows. Standard Chartered still holds a year-end XRP forecast of $2.80.
Fed decision looms
The Federal Reserve's policy meeting runs July 28-29. Markets largely expect the central bank to keep rates unchanged. A surprise 25 basis point hike is less likely, but the decision and accompanying statement will set the tone for risk assets including crypto. The timing isn't great for XRP — it's testing a key level just as macro uncertainty peaks.
Bitcoin Hyper presale passes $33M
Bitcoin Hyper, a Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, is in presale at $0.0136838. The project has raised almost $33 million so far. It's a separate story from the XRP and Bitcoin price action, but it shows capital is still flowing into new infrastructure plays even as the market pulls back.
The Fed's rate decision is due Thursday afternoon. For XRP, the $1.05 level will be the first test — hold it and the range stays intact; lose it and the next stop could be sub-$1.
