XRP Reclaims $1.50 Price Level as Odds for Fed Rate Hike Eases
Ripple (XRP) price rebounded on Sunday, up 1.2% to $1.50, slightly outperforming a broadly positive crypto market driven by a macro-sensitive lift alongside Bitcoin.
The move appears modest and lacks a clear, singular catalyst, instead reflecting eased selling pressure and steady ecosystem sentiment.
Traders note a market-wide beta move, as softer U.S. jobs data reduced expectations for Federal Reserve rate hikes and lifted Bitcoin and correlated assets like XRP.
XRP’s gain aligns with a 0.82% rise in the total crypto market cap. The primary driver was a weaker-than-expected U.S. September jobs report (29,000 jobs added), which lowered odds of an imminent Fed rate hike and boosted risk assets.
The surprisingly weak September nonfarm payrolls report, which added only 29,000 jobs against an expected 90,000, has significantly altered interest rate expectations.
The probability of the Federal Reserve holding rates steady in October has surged to 83.9%, effectively delaying the real debate over monetary tightening to December.
For crypto investors, the immediate risk lies in the U.S. Treasury market, where the 10-year yield has spiked above 5.36%. Next week’s release of the Fed’s September meeting minutes will reveal the depth of division within the FOMC regarding inflation versus employment risks.
If the minutes convey a hawkish tone and the upcoming 10-year and 30-year Treasury auctions see weak demand, the rising risk-free rate could severely compress risk-asset valuations and cap any short-term upside for cryptocurrencies.
Traders are watching for upcoming U.S. consumer price index (CPI) data and the Fed’s October 27–28 meeting for further macro direction.
The data shows no clear secondary driver, but contributory factors include a contraction in Binance XRP open interest – down about 32% from late August- and long liquidations exceeding shorts, signalling reduced forced-selling pressure.
Concurrently, news from the XRP Seoul conference highlighted ongoing ledger upgrades like confidential transfers and AI agent support, maintaining a constructive backdrop.
While not a direct price catalyst, these factors helped prevent downward pressure and supported neutral-to-positive sentiment.
The immediate technical structure shows XRP trading near the 38.2% Fibonacci retracement level at $1.50, with RSI at a neutral 55.28.
The upcoming XRP Ledger amendment (BatchV1_1), scheduled to activate on October 9, is a concrete event that could influence developer activity and sentiment.
The price is consolidating, awaiting a clearer directional catalyst from broader market moves or ecosystem developments.
Crypto analysts said an hourly close above $1.54 would signal a breakout attempt, or a break below $1.45 would indicate weakening momentum. How to Open an Account, Trade Crypto as a First-Timer
