XRP Teeters on $1.13 Support Amid Fed Rate Fears

XRP is currently trading near its critical support level of $1.13, weighed down by concerns that the US Federal Reserve will maintain high interest rates for longer, leading to a risk-off sentiment across crypto markets.

The token has dropped about 3.2% in 24 hours and faces strong resistance around $1.30, with technical indicators showing weak momentum.

Derivatives liquidations, particularly long positions, have accelerated the decline.