Ripple, Litecoin & Other Major Cryptos Attempt Fresh Swing Lows Tuesday Ahead of Fed Rates
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As Tuesday dawns, crypto markets are feeling the jitters—and it's not just caffeine driving the moves. With the Federal Reserve’s interest rate decision looming, major cryptocurrencies including Ripple (XRP), Litecoin (LTC), and others are attempting to push into new swing lows. Let’s unpack the price action and the psychology beneath it.
Ripple (XRP/USD) Slides Into Support
Looking at the XRP/USD 4-hour chart, Ripple has been on a relentless downtrend since early May, printing a series of lower highs and lower lows. The price recently pierced through the $2.10 zone, currently hovering around $2.09, flirting with the recent horizontal support level. The sell-off has been steady, with only brief moments of bullish resistance before bears reclaim control.
This pattern suggests that traders are exercising caution—possibly front-running a hawkish tone from the Fed. A drop below $2.08 could open the door to a deeper correction toward the $2.05 or even $2.00 psychological level.
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Litecoin (LTC) Follows the Same Rhythm
Litecoin hasn’t been spared from the sell pressure either. While LTC has held some ground better than Ripple, it has also seen its fair share of lower swing lows on intraday charts. With volume increasing on red candles, the market seems bracing for tighter monetary policy and reduced risk appetite across speculative assets like crypto.
Fed Anxiety is Real in the Crypto World
The narrative is clear: traders are risk-off ahead of the Federal Reserve’s upcoming rate decision. With inflation data still sticky, there’s growing concern the Fed may maintain or even hint at additional rate hikes, which tend to spook riskier markets. For crypto, which thrives in high-liquidity environments, the threat of tighter policy often translates to sharp pullbacks.
What to Watch Next
FOMC Rate Decision: The outcome could set the tone for the rest of May. If the Fed hints at a pause or a future pivot, expect a sharp bounce across the board. Otherwise, more pain could follow.
Ripple’s $2.08-$2.05 Zone: This area will be critical. A break below it with volume could accelerate the downtrend.
Litecoin’s $80 Support: LTC bulls need to defend this zone to avoid revisiting March lows.
Final Thoughts
Right now, the crypto space is holding its breath. Ripple and Litecoin are sending clear signals of uncertainty and fear, but that also means opportunities may be on the horizon. Once the Fed’s cards are on the table, volatility could explode in either direction—so get your seatbelts ready, traders.
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