XRP Price Drops Amid Macro Uncertainty and Declining Institutional Interest

The XRP price has taken a hit in recent days, falling by 1.03% over the last 24 hours. This decline is largely attributed to macroeconomic conditions, with the Federal Reserve's decision to keep interest rates unchanged at 3.5-3.75% weighing heavily on the market. The cryptocurrency market as a whole is experiencing a state of fear, with the CMC Crypto Fear and Greed Index reading 29 - a level typically associated with defensive trading.

The XRP price has been particularly affected by the decline in institutional interest. US-listed XRP spot ETFs recorded zero net inflows on Wednesday, while institutional engagement metrics indicate a decrease in large-scale acquisitions. This reduction in momentum is likely to contribute to further price drops in the coming days.

With the current support level at $1.42, there is still some room for the price to move before hitting major resistance levels. However, if this level fails to hold, the next point of support will be around $1.35 - an area that could attract significant price action due to its high liquidity. Ultimately, the XRP price will need to recover above $1.50 in order to rebuild confidence and counter the existing bearish momentum.