XRP Price Torn Between Bearish and Bullish Signals Ahead of Fed Meeting

XRP's price is caught in a technical tug-of-war between bearish and bullish signals, with its next major move likely hinging on the outcome of a Federal Reserve meeting this week. The cryptocurrency traded around $1.42 on Tuesday, September 15, after a recent decline from highs near $1.70. The token's price action has been defined by a breakdown from a tightening symmetrical triangle pattern, which saw it fall to a range between $1.34 and $1.37 after being rejected near $1.43 to $1.45. This breakdown has shifted short-term market structure, with analysts noting the emergence of lower highs and lower lows. The immediate technical focus is on the $1.31 support level, with a deeper correction potentially bringing the $1.17 area into view. However, a competing bullish narrative exists. Analyst Ali Charts has identified $1.38 as the critical resistance level XRP must clear to confirm a breakout. A decisive move above that threshold could open a path toward $1.60. This bullish case is supported by on-chain data showing that over 4.8 billion XRP were acquired between $1.31 and $1.38, creating a significant demand zone that could provide support.