Altcoins Rebound Ahead of FOMC: XRP, Hyperliquid and Ethena Face Critical Resistance
XRP, Hyperliquid (HYPE) and Ethena (ENA) are approaching important technical levels as the US Federal Open Market Committee (FOMC) prepares to meet. The three altcoins have recently rebounded, but their next moves could depend on whether buyers can defend support or push prices through resistance.
Crypto analyst Ali Charts highlighted key levels for all three tokens in an October 28 market update. The analysis identifies potential upside targets if bullish momentum continues, alongside downside levels traders may watch if the recoveries lose strength. These are chart-based scenarios rather than confirmed price predictions.
XRP Needs to Hold $1.25 to Keep the $2.10 Target in Play
XRP is rebounding while its daily chart appears to be forming an inverse head-and-shoulders pattern, a formation traders often associate with a possible trend reversal. The potential right shoulder is developing near $1.25, making that level important to the setup described by Ali Charts.
If XRP holds above $1.25, the analyst identifies $1.55 as the next major level to watch. This price represents the neckline of the potential pattern. A daily close above $1.55 could strengthen the breakout scenario and bring the $2.10 target into focus.
However, the pattern remains unconfirmed until price action validates it. If XRP loses $1.25 instead, the analysis points to $0.98 as the next downside level. That would put the current rebound under pressure and weaken the bullish setup.
The distinction matters for XRP holders watching the FOMC meeting. A move toward $1.55 would show that buyers are challenging resistance, while a confirmed break above the neckline would provide stronger technical evidence for the higher target. Until then, the $2.10 scenario remains conditional.
Hyperliquid and Ethena Face Separate Technical Tests
Hyperliquid has rebounded from approximately $74, a level near a rising trendline that Ali Charts says has guided its price action since late January. Previous tests of this trendline preceded rallies of 87% in late January and 72% in early August.
If HYPE holds near $74, the analyst sees potential for a move toward $110. Those earlier rebounds provide historical context, but they do not guarantee another rally of similar size. A break below $74 would shift attention to $67, followed by $60, as potential downside levels.
Ethena has gained roughly 18% over the past few days and is now testing the upper boundary of a descending channel. Unlike XRP and HYPE, which need to defend support, ENA must overcome nearby resistance to strengthen its bullish outlook.
According to Ali Charts, a four-hour close above $0.22 could open a path toward $0.24, with $0.27 as a further potential target. If ENA fails to clear the channel boundary, the token could retreat toward the channel’s midpoint near $0.18.
The upcoming FOMC meeting adds a macroeconomic factor to these technical setups. Federal Reserve policy signals can influence risk appetite across financial markets, including cryptocurrencies, although the direction and magnitude of any reaction are uncertain.
For traders, the key levels are clear: XRP needs to defend $1.25, HYPE must hold around $74, and ENA needs a four-hour close above $0.22 to confirm a potential breakout. Whether these conditions are met will determine if the recent altcoin rebound can extend or gives way to another pullback.
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