XRP is running a $2.4B debt trap that could wipe out spot buyers the second the Fed speaks
XRP trades around $1.06, down 2.9% in 24 hours and 8.6% over the week, with derivatives activity far exceeding spot: $2.43 billion in open interest, $2.47 billion in 24-hour futures volume, and only $361 million in spot volume. That leaves the token vulnerable to forced liquidations, which already totaled $9.51 million in a day, especially if $1.05 support breaks and the psychological $1 level comes under pressure. The setup is tied closely to Bitcoin and the Fed. Markets expect a mostly unchanged July 28–29 Fed meeting, while Bitcoin has been trading in a range and recently slipped lower, signaling weak speculative conviction and muted inflows. Because crypto market structure still follows Bitcoin first, XRP’s near-term direction likely depends on whether Bitcoin reclaims the $64,000–$65,100 area after the Fed decision. If not, XRP could be pulled toward $1; if Bitcoin rebounds, XRP may recover $1.09 and move back into the $1.11–$1.15 zone.
