New York, January 28, 2026, 10:28 EST — Regular session
- After dipping early, XRP climbed about 1% to hover near $1.90
- Bitcoin and ether nudged up as traders held their breath ahead of the Federal Reserve
- Later Wednesday, all eyes turn to Fed language and the tone set by Chair Jerome Powell
XRP gained roughly 1% on Wednesday, last trading near $1.90. It had climbed to $1.94 earlier before dropping back to $1.88.
The token’s upward drift is significant now that the Fed has reclaimed control over risk assets. Crypto often moves like a high-beta play on looser monetary policy, and investors have spent the past week adjusting their bets on the duration of restrictive U.S. interest rates.
The dollar’s drop has fueled demand elsewhere. It stayed close to four-year lows following President Donald Trump dismissing this month’s decline. One strategist labeled the situation a “crisis of confidence” in the greenback. 1
XRP showed some choppiness but stayed steady overall. It gained 0.23% on Wednesday following a 0.59% increase on Tuesday, per Investing.com data.
Big coins followed suit. Bitcoin climbed roughly 1.9% to hit $89,185, while ether jumped close to 2.9%, reaching $2,999.
The Fed is widely expected to keep rates unchanged, Reuters reported, as markets search for clues on the length of the pause in cuts. “There is no urgency to lower rates aggressively,” said Seema Shah, chief global strategist at Principal Asset Management. J.P. Morgan’s Michael Feroli added that any changes to the statement probably won’t deliver “material policy signals.” 2
XRP traders know the drill, even if the market itself complicates things. When yields drop and the dollar weakens, speculative assets usually get a boost. But if rates stay high for longer, the opposite can hit just as quickly.
XRP is still closely connected to Ripple Labs, which incorporates the token in some of its payment services. The company is also embroiled in an ongoing legal battle with the U.S. Securities and Exchange Commission over XRP sales. 3
CoinDesk, in a technical analysis note, reported XRP finding support near the high-$1.80s, while attempts to push past the low-$1.90s have repeatedly faltered. (Support refers to a price level where buying interest typically increases; resistance is where selling pressure tends to build.) 4
The setup works both ways. Should Powell turn hawkish or the Fed hint at holding off on further cuts, the dollar might surge, dragging crypto’s rally down. Smaller tokens, with their thin liquidity, could take the hardest hit and slide sharply.
All eyes turn to the clock now: the Fed’s policy statement drops at 2 p.m. EST, with Powell’s news conference set for 2:30 p.m. EST. 5
