The cryptocurrency market is facing a major correction today. According to CoinGecko data, Ripple’s XRP token has faced a 6% crash in the last 24 hours, a 7% crash in the last week, and a 1.9% and 7.7% dip in the 14-day and monthly charts, respectively. XRP has maintained some gains in the yearly charts, rallying 372% since September 2024.
Should You Buy XRP During The Crash, or Wait For Lower Prices?
\The latest market crash comes despite the Federal Reserve rolling out its first interest rate cut of 2025 last week. Fresh volatility has led to $1.7 billion being liquidated from the crypto market in the last 24 hours, according to CoinGlass data. The platform notes that XRP has seen $866,520 of liquidations in the previous 24 hours.
The market crash could be due to uncertainties around the Federal Reserve’s monetary policy. Fed Chair Jerome Powell will deliver his speech tomorrow, Tuesday, Sept. 23, 2025. Market participants will look closely for clues on the Fed’s monetary policy stance.
Also Read: Why Is The Cryptocurrency Market Down Today?
XRP has some support at the $2.80 mark. The asset’s price could consolidate around its current level. Powell’s speech may hold the key to where XRP’s price may go next. If the Fed takes a dovish stance, the asset’s price may witness a rebound. However, a hawkish stance could lead to a further price crash for XRP.
September has historically been a bearish month for the crypto market. October, on the other hand, has been quite bullish. We are just about a week away from October, and could see a change in the market’s behaviour.
According to CoinCodex data, XRP could recover over the coming weeks. The platform anticipates the asset to reclaim the $3 mark next month, hitting $3.19 on Oct. 13.
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