XRP Climbs 0.90% to $1.50 as Macro Sentiment Lifts Crypto Markets
XRP has seen a modest price increase of 0.90% to $1.50 in the past 24 hours, closely mirroring the broader market's rise led by Bitcoin. The token's price movement is primarily driven by positive macro sentiment, with softer inflation data and a bullish forecast from Citigroup contributing to eased rate-hike fears.
The softer August personal consumption expenditure (PCE) inflation reduced expectations for aggressive Federal Reserve rate hikes, boosting risk assets and lifting crypto markets. Citigroup analysts have raised their 12-month Bitcoin target to $113,000, further contributing to the positive sentiment.
However, XRP's price movement is largely driven by its beta, rather than internal catalysts. The token remains range-bound ahead of a potential shift in sentiment following Evernorth's public debut on October 8.