Forex
XRP Faces Selling Pressure Near $1.40 Amid Macro Uncertainty
XRP has maintained its position as the best-performing cryptocurrency among the market's five largest assets, gaining 36% since its late-August rally.
The token is currently facing renewed macroeconomic uncertainty and persistent selling pressure near $1.40, which continues to limit its recovery.
US inflation rose 3.4% year over year in August, 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 and XRP retested the $1.31 support level before bouncing back to $1.37.