Ripple (XRP) and Ethereum (ETH) Price See Relief Bounce After FOMC Crypto Market Crash

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Ripple (XRP) and Ethereum (ETH) suffered significant losses last week and opened the new trading week in the red. Ripple (XRP) tanked 8.33% on Tuesday prior to FOMC, followed by Ethereum (ETH) with a nearly 4% decline. In the same session, other crypto majors Bitcoin (BTC) and Cardano (ADA), also showed weakness.

The XRP price has since bounced to $0.42 at press time but analysts caution investors to stay away from leading cryptocurrencies at this point. The market's weakness is expected to linger in the long term, and the biggest recipients of this setback are Bitcoin (BTC) and leading altcoins.

Investors pocket their remaining holdings and put them in The Hideaways (HDWY). The token is projected to become one of the top-performing cryptocurrencies this year.

The latest on-chain analysis shows Ripple's increasing investment inflows despite the weakness in the broader crypto market.

$300,000 worth of funds is believed to have been put into XRP last week, growing threefold from the previous week's $100,000 inflows.

This means interest in Ripple (XRP) remains strong especially now that its management has filed for an appeal to trash the US SEC's claim to consider it a regular security asset.

However, XRP's price does not seem happy about the update. The token is still trading lower than its May price range and is 80% down from its all time high, showing that trading XRP remains high risk.

The XRP price is forecasted to fall to a new low at $0.31. If selling pressure continues at this level, XRP might revisit $0.28 - a level not seen since June.

Ethereum (ETH) is another token that's been leading the market losers lately. With the