XRP Struggles to Break Above $1.40 Amid Macro Uncertainty
XRP has been the top-performing cryptocurrency among the market's five largest assets, gaining 36% since its late-August rally.
However, recent macroeconomic uncertainty and persistent selling pressure near $1.40 continue to limit its recovery.
US inflation rose 3.4% year over year in August, broadly matching market expectations, but 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 those gains faded over the weekend, with XRP retesting the $1.31 support level on Sunday before bouncing back to $1.37.
The broader rally remains intact, but some investors appear unconvinced that the previous bearish cycle has ended.