Crypto
XRP Faces Resistance at $1.40 Amid Renewed Macroeconomic Uncertainty
XRP has been the top performer among the five largest cryptocurrencies since its late-August rally, gaining 36%.
The token's broader rally remains intact despite renewed macroeconomic uncertainty and selling pressure near $1.40.
US inflation rose 3.4% year over year in August, matching market expectations, while month-over-month inflation exceeded forecasts by 10 basis points, pushing the probability of a September interest-rate hike to 87%.
Cryptocurrency prices initially rallied after the report, with several tokens breaking above key resistance levels, but gains faded over the weekend and retested the $1.31 support level on Sunday before bouncing back to $1.37.