XRP Climbs Relief Rally, SEC Delays Teucrium’s 2x Short Daily ETF

XRP Climbs on Relief Rally, SEC Delays Teucrium’s 2x Short Daily ETF

MarketForces Africa: XRP’s price rose by 1.89% to $1.32 on Friday, closely tracking a broader market rally primarily driven by a relief rally after the Federal Reserve’s expected interest rate hike.

The Federal Reserve raised interest rates by 25 basis points on September 16, its first hike since 2023. Markets interpreted the move as a “mid-cycle adjustment” rather than the start of aggressive tightening, sparking a risk-on rally.

The total crypto market cap rose 2.22%, with Bitcoin up 1.67%. XRP’s nearly identical move was driven by this macro sentiment shift. XRP’s gain was not a result of a coin-specific catalyst but followed the broader market’s positive reaction to clarified monetary policy.

While U.S. spot Bitcoin and Ether ETFs saw combined net outflows of $520 million on September 16, Franklin’s XRP ETF (XRPZ) attracted a $3.5 million inflow. This suggests some capital rotated into XRP as a relative haven amid ETF selling pressure in other majors.

Modest institutional flows provided relative support, differentiating XRP’s performance from larger assets experiencing outflows.

Traders said XRP is consolidating above a crucial support zone between $1.26 and $1.29 20 days average. The structure is at an inflection point. Holding support could build a base for a retest of immediate resistance at $1.34.