CPI Report Looms as Catalyst for XRP Breakout

XRP traders are bracing for volatility ahead of the U.S. Consumer Price Index (CPI) report, which could break XRP out of its tight range between $0.99 and $1.01.

The CPI report is due on August 12 at 8:30 a.m. ET and has the potential to impact interest rates, which in turn can affect risk assets like XRP.

A soft CPI could lead to hopes of rate cuts, potentially sparking a breakout above $1.10, while higher-than-expected inflation may push XRP lower.