Crypto Market Weakness Extends as XRP and XLM Approach Key Support Zones

Recent US inflation data and shifting expectations around the Federal Reserve's monetary policy have triggered a market downturn, affecting cryptocurrencies like XRP and XLM. According to financial analyst Tyler Hill, many traders had positioned for a softer print on the latest Producer Price Index report, which instead supported the expectation of a tighter monetary posture from the Fed.

The US inflation release followed a broad cryptocurrency market decline, with major assets like Bitcoin, Ethereum, BNB, Solana, Tron, and Dogecoin experiencing losses. Zcash dropped approximately 11% during the session covered.

XRP traded near $1.32, registering a 5.13% decline over 24 hours, while XLM fell 4.54%. Hill observed that this market weakness extended beyond these tokens.

Key support zones for both assets are being tested: between $1.31 and $1.34 for XRP, and between $0.175 and $0.171 for XLM. A rebound from these levels could send prices to resistance around $1.50 for XRP or $0.195 for XLM.