XRP
XRP Drops to $1.30 as Hotter US Inflation Pressures Crypto Markets
XRP declined alongside broader digital assets after hotter-than-expected US inflation data interrupted its recent rally setup.
XRP fell 5.9% over 24 hours and 7.7% across the past week to trade near $1.30, as higher-than-expected United States inflation data weighed on sentiment across the cryptocurrency sector. The downward move invalidated previous expectations of an immediate upward continuation, pushing the token into an extended corrective phase.
Technical analysis highlighted in the report suggests the asset may undergo a three-leg correction, with the $1.20 region—roughly 8% below current prices—identified as a key support level for spot accumulation. Despite the ongoing pullback, the broader market structure is noted as still favoring a potential recovery toward previous highs near $1.70 once the correction concludes.
The weakness in XRP coincided with wider market volatility following the September consumer price index report. The macro data sparked over $106 million in Ether long liquidations on Binance within an hour, while US equities also posted sharp declines following exceptionally thin trading volumes in the SPDR S&P 500 ETF Trust prior to the release.
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