XRP Falls to $1.29 as Hawkish Fed Hold Weighs on Price
XRP fell nearly 3% in Asian trading on October 29, 2026, to around $1.29, as a brief post-Federal Reserve bounce faded. The Fed held its benchmark rate at 3.75% to 4.00%, but the 10-2 vote included two governors, Lisa D. Cook and Beth M. Hammack, who preferred a 0.25 percentage point increase. Their dissent kept hawkish rate concerns in focus.
Selling pressure also reflected worries about technology stocks, softer institutional demand and forced crypto liquidations. XRP underperformed other major tokens: Bitcoin traded between $80,000 and $81,000, while Ethereum held around $2,320 to $2,343. The divergence points to weaker risk appetite for XRP and other altcoins during the session.
The $1.29 level is a near-term test for XRP buyers, but the token’s direction may also depend on Bitcoin’s trend, upcoming economic data and signals from the Fed. The rate hold did not provide a lasting boost to XRP.
Bearish
The immediate signal for XRP is bearish: it fell nearly 3% to about $1.29 after its post-Fed rebound failed, while Bitcoin and Ethereum held comparatively firmer ranges. The Fed’s rate hold was expected, but two dissenting votes for a 0.25 percentage point hike reinforced the possibility that borrowing costs could remain restrictive. Tech-stock concerns, weaker institutional demand and forced liquidations added to near-term selling pressure.
This resembles past event-driven crypto pullbacks in which an anticipated central-bank decision initially prompts relief buying, but hawkish guidance or positioning liquidations reverse the move. Such reversals can increase volatility and encourage traders to reduce exposure to altcoins, which may be more sensitive to shifts in risk appetite than Bitcoin. The $1.29 area is therefore a near-term level to watch, though the article does not establish that it will hold or break.
The longer-term impact is less certain. A single rate decision and one session of underperformance do not determine XRP’s trend. Bitcoin’s direction, incoming economic data, future Fed signals and a recovery or further weakening in institutional demand will be important. If broader risk sentiment improves, XRP could regain ground; if hawkish expectations and liquidations persist, pressure on XRP and other altcoins may continue. This is a short-term bearish read, not a definitive long-term forecast.