XRP Braces for CPI-Driven Volatility as Breakout Hope Hinges on Inflation Data
XRP is trading around $1.01 as traders prepare for potential volatility in the coming hours due to the release of the U.S. Consumer Price Index (CPI) report.
The CPI reading has the power to shake both crypto and stock markets, with a soft inflation number potentially sparking a breakout for XRP while high inflation could push it lower.
XRP is currently stuck in a tight range between $0.99 and $1.01, but under the surface, traders are anticipating a significant move.
The token has been trading at this price level for several days, with its value dropping to as low as $0.9916 yesterday, marking the first time it fell below $1 since November 2024.
XRP is down 4.26% over the past week and a sustained move above $1.10 would signal a potential breakout, while a break below the $0.99 area could lead to further downside.