XRP rises to $1.08 as market rebounds before Fed decision

The cryptocurrency XRP traded near $1.08 on Wednesday, July 29, 2026, posting modest gains as broader market sentiment improved ahead of a key U.S. Federal Reserve policy announcement. The intraday recovery followed a period of significant pressure, with the token's price having broken below a key technical support level of $1.054 just a day earlier, on July 28, to trade as low as $1.05.

This recent volatility underscores the token's fragile position within the digital asset market. Among major cryptocurrencies, XRP has suffered the deepest decline from its all-time high, down approximately 67%. Over the past 90 days, its performance has trailed the average of its major peers by over 12 percentage points, a pattern analysts attribute to its high sensitivity to shifts in market risk appetite.

A confluence of technical and on-chain factors is exacerbating the downtrend. Market data indicates a crowded positioning in derivatives markets, with both large traders and retail participants heavily leaning long on XRP. This alignment is considered dangerous because it leaves few new buyers to push the price higher, while a downturn can trigger cascading liquidations of leveraged bets....