XRP Price Surges on August CPI Data, Eyes Resistance Level

XRP price surged by 4.87% after the release of the August CPI data, which showed inflation holding steady at 3.4%. The token's price rose to $1.3996, with the immediate technical level being resistance between $1.397 and $1.400.

The Ichimoku chart shows that XRP is testing this resistance level, with support sitting lower at $1.3716. This means that the bullish move remains unconfirmed until a clean break above $1.4336 occurs.

Analyst Dark Defender noted that XRP has completed Wave 1 on the daily timeframe and is currently consolidating. He identified a bull flag pattern and placed $1.33 as the key support level, with a target of $1.88 if the green support zone remains intact.