XRP Price Drops Amid Rising Short Positions Ahead of US Inflation Data

XRP's price dropped to $1.38 on September 10, marking its lowest point in a week.

This decline coincided with an increase in short positions among traders, who were anticipating a rise in US inflation data expected on September 11.

The funding rate for XRP fell to multi-month lows, indicating bearish market sentiment. However, institutional inflows into XRP ETFs continue, suggesting confidence in the asset's long-term potential.

Experts warn that if XRP falls below $1.38, it could test $1.33. On the other hand, easing inflation pressures might push the price back up to resistance near $1.46-$1.47.