XRP's Recovery Halted at $1.40 Amid Macro Uncertainty

XRP has been the top-performing cryptocurrency among the largest assets in the market, gaining 36% since its late-August rally. However, despite this momentum, the token's recovery is being hindered by renewed macroeconomic uncertainty and persistent selling pressure near $1.40.

The latest inflation report showed a 3.4% year-over-year increase in August, matching market expectations but exceeding forecasts on a month-over-month basis. This has pushed the probability of a September interest-rate hike to 87%, causing some volatility in cryptocurrency markets.

XRP initially rallied after the report, with several tokens breaking above key resistance levels, but these gains faded over the weekend and retested the $1.31 support level on Sunday before bouncing back to $1.37.