Market Analysis
SOLUSD midweek: where we are ahead of the FOMC, 2026-07-27
SOLUSD sits at 73.39 midweek, down from Monday's 76.62 open, with the FOMC decision and Thursday's Core PCE still to land.
3 min readXRPUSD trades at 1.0806 as of Wednesday's close. That is down from Monday's open of 1.1102, a slide of about 2.7 percent across the week so far, though most of that damage came on day one. The high this week sits at 1.112, printed Monday morning. The low is 1.0425, tagged Tuesday before buyers stepped back in.
Monday did the heavy lifting. Price opened at 1.1102 and closed at 1.0633, a full session of selling that dragged the pair to a low of 1.06. Tuesday held that base and closed flat at 1.0664. Wednesday changed the tone: price ran from a 1.0666 open to a 1.0886 high before settling at 1.0806. There is no scheduled economic event in the bundle tied to this move, so read it as a technical bounce off the Tuesday low rather than a headline-driven repricing. Broader dollar softness was in the tape this week, with reporting that the USD moved lower as markets flipped.
The calendar for the back half of this week is empty. No high-impact events are scheduled Thursday or Friday in this bundle. That puts the weight on price action and cross-market flow. If the dollar stays soft into Friday and XRPUSD holds above 1.0664, the Wednesday recovery has room to extend. If risk sentiment turns and 1.0664 gives way, Tuesday's 1.0425 low comes back into focus.
As of Wednesday, sentiment reads 69.4 percent long against 30.6 percent short. That is a firm bullish skew, and it lines up with the Wednesday bounce. A crowded long book cuts both ways: it confirms the recovery has believers, but it also means a break below support could force a faster unwind as those positions get flushed.
The line in play is 1.0806, Wednesday's close, sitting just under the 1.0886 session high. Hold above 1.0806 and a push at 1.0886 is the next test, with the 1.112 weekly high beyond it. Lose 1.0806 and the market drops back toward the 1.0664 base, where Tuesday's close and Wednesday's open cluster. The same rebound story is playing out across parts of the crypto board, and you can track a contrasting move on Bitcoin for confirmation of broad risk appetite. If you want these levels mapped in real time, you can open an LHFX account and watch them on a live chart.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
