Ripple’s token extends losses for a second day amid broader risk aversion ahead of the Federal Reserve’s next policy decision.
XRP fell toward $1.00 on Tuesday, extending its decline for a second consecutive session as investors reduced risk exposure ahead of the Federal Reserve’s upcoming interest rate decision. The drop contrasts with a rise in open interest, signaling potential hedging activity rather than bullish sentiment.
The token’s decline mirrors broader weakness in cryptocurrency markets, with Bitcoin and Ethereum also under pressure. Prior sessions saw modest gains, but sentiment shifted as traders priced in a more hawkish Fed stance following recent inflation data.
No immediate market reaction was reported beyond the price movement, though liquidity remained thin amid cautious positioning.