Ripple XRP Price Declines on U.S. Fed Rate Hike Fears
XRP is down 2.83% to $1.41 over the last 24 hours, underperforming Bitcoin’s 1.63% drop, amid a broad crypto sell-off following strong U.S. jobs data that raised fears of a Federal Reserve rate hike.
The primary driver was a market-wide reaction to macro data. A strong U.S. jobs report on September 4 showed 162,000 nonfarm payrolls, far exceeding expectations and increasing bets on a Fed rate hike.
This sparked a sell-off in risk assets, pulling Bitcoin down 1.63% and XRP down 2.83%. Crypto analysts and traders said XRP’s drop was not coin-specific but part of a broader, rates-sensitive crypto correction.
The market is awaiting the U.S. CPI inflation data on September 11 and the Fed meeting on September 15–16 for further macro direction.
The decline triggered a cascade of long liquidations. Social data show that $15.65 million in XRP positions were liquidated in 24 hours, with 95.8% of the positions being longs. The derivatives flush added selling pressure, accelerating the drop.
The move was exacerbated by the clearing of over-leveraged bullish bets, a typical symptom of a sudden downturn. A stabilisation in funding rates and open interest will signal whether leveraged selling pressure has subsided.
Technically, XRP is testing crucial support at $1.40. The 24h trading volume fell by 40.95% to $2.8 billion, suggesting the drop was not driven by panic selling. The immediate range is $1.40–$1.48, with major resistance at $1.53.
The key upcoming event is the Senate’s procedural vote on the CLARITY Act on September 15, which could bring regulatory clarity for XRP. The structure is weak but not broken. Holding $1.40 is critical for near-term stability.
A 4-hour close below $1.40, which could trigger a slide toward the next support at $1.37.
The 24h decline was a combination of macro headwinds and a leveraged washout.
While the drop underperformed Bitcoin, the lack of a coin-specific catalyst and diminished volume suggest this is more of a corrective pullback within a broader uptrend. XRP Backflips on Technical Rejection After 10% Price Surge
