XRP Tumbles Ahead of US Inflation Data Release Amid Rising Short Interest
Ripple's XRP has dropped to its lowest price in a week ahead of the US CPI data release on September 11. According to CoinGlass, an influx of traders is opening short positions, betting that the price will move lower.
Data from CoinGlass shows that XRP's funding rate has dropped to -0.0094%, indicating bearish market sentiment as short sellers pay long traders to keep futures positions open.
The US CPI data release and expected interest rate hikes have led to a rise in short selling, with 71% of investors betting that the Fed will increase interest rates in 2026, according to CoinGape prediction markets.
Despite the bearish market sentiment, Ripple ETFs saw $12.29 million in inflows on September 9, marking the highest inflows since September 1.