XRP dips below the $1.30 support amid bearish positioning

Key takeaways XRP has dropped below $1.30 on Thursday as the bearish trend persists. Long-to-short ratios stand at 0.82, indicating bearish positioning in the tracked data. XRP must reclaim resistance between $1.333 and $1.372 to improve its near-term technical outlook. XRP struggles after Fed’s cautious hold XRP remains under pressure on Thursday as bearish derivatives positioning and persistent selling activity limited its recovery prospects. XRP traded around $1.29, dropping below the closely watched $1.300 support level. The weakness followed the Federal Reserve’s decision to hold interest rates at 3.75%–4.00%. Although rates were unchanged, continued inflation concerns and a hawkish undertone weighed on appetite for risk assets. CoinGlass data shows XRP’s long-to-short ratio at 0.82 , approaching its lowest reading in more than a month.

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