XRP Price Drops by 4.4% on U.S. Fed Hawkish Tone
Ripple (XRP) price nosedived 4.38% to $1.16 on Thursday, underperforming a declining broader market, primarily driven by a hawkish shift in US Federal Reserve policy under new Chair Kevin Warsh.
The primary driver is a macro selloff following the first FOMC meeting under new Fed Chair Kevin Warsh on June 17. While rates were held steady, the Fed signalled concern over inflation and a slower path for future cuts.
Tighter financial conditions typically reduce liquidity for speculative assets, causing correlated declines across crypto. XRP’s drop is not coin-specific but part of a broader, rates-sensitive risk-off move.
Sustained reactions to Fed officials’ comments, which could extend the pressure. No clear secondary driver was visible in the provided data.
The move aligns with broad altcoin weakness, as seen in similar declines for Ethereum (-3.4%) and Solana (-3.6%) over the same period.
This indicates a lack of rotational capital into altcoins amid the macro uncertainty. The decline reflects a lack of idiosyncratic demand for XRP to counter the market-wide headwind.
Technically, XRP is trading below its 7-day average of $1.18 and pivot point ($1.19), with key support between $1.13 and $1.14. According to technical analysts, the Relative Strength Index at 44.58 shows room for further downside but is not yet oversold.
The structure is bearish below $1.19, but the $1.13–$1.14 zone is a critical decision area that held during the recent bounce.
Technical traders said a daily close below $1.13 would confirm a breakdown, or a reclaim of $1.19 to signal stabilisation. XRP’s drop is a symptom of tighter macro policy, with technicals pointing to a test of major support. XRP Gains as Ripple RLUSD Stablecoin Lists on Gate.io
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