XRP's Price Capped at $1.40 as Selling Pressure Persists

XRP remains the best-performing cryptocurrency among the market's top five assets, gaining 36% since its late-August rally. However, renewed macroeconomic uncertainty and persistent selling pressure near $1.40 continue to limit XRP's recovery.

The US inflation rate rose 3.4% year over year in August, matching market expectations. The 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. However, gains faded over the weekend, with XRP retesting the $1.31 support level on Sunday before bouncing back to $1.37.