XRP
XRP Slides to $1.32 Amid Long Liquidations and Rising Exchange Inflows
Large holder deposits to Binance and nearly $5 million in liquidated long positions contributed to a 1.39% decline in XRP ahead of an upcoming Federal Reserve policy decision.
XRP declined 1.39% to trade at $1.32 over a 24-hour period, mirroring broader weakness across the cryptocurrency market. Bitcoin dropped 1.26% over the same timeframe, while the aggregate crypto market capitalization fell 1.07% amid caution leading into the Federal Reserve's October 28 monetary policy decision.
Selling pressure was exacerbated by significant transfers from large XRP holders into Binance, alongside the liquidation of $4.9 million in leveraged long positions.
According to market observations, XRP is nearing support around $1.30. A failure to hold this threshold could open a move toward $1.25, while defending it may allow for a rebound toward $1.37 to $1.40. Market participants are also monitoring XRP ETF flows for signs of incoming demand.
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