XRP Struggles to Hold Key Support as Macro Fears Intensify

XRP has been under pressure in recent days due to macroeconomic concerns that have spread across the crypto market. The token is currently hovering near its key weekly support zone of $1.13, with traders watching closely to see if it can hold this level.

According to CoinMarketCap data, XRP's market capitalization stands at around $70 billion, ranking it sixth among cryptocurrencies by value. Over the past 24 hours, XRP has slipped 3.21% to trade around $1.1283, extending a downward trend that has seen it fall below multiple key moving averages.

The move is being framed as a macro event rather than a Ripple-specific shock, with analysts pointing to renewed concerns about the Federal Reserve's interest rate stance as a major driver of risk-off sentiment in the market. This sentiment is reflected in derivatives positioning, with XRP futures activity contracting by 14.5% over 24 hours and liquidations totaling around $7.41 million.

From a technical perspective, several indicators suggest that XRP's current range is fragile, with Bitget highlighting $1.13 as the most important support on the weekly chart. Breaking below this level could expose XRP to a deeper slide towards the $0.90-$1.00 band.