XRP Price Climbs on Citigroup Bullish Target Price Upgrade
Ripple (XRP) price climbed 0.90% to $1.50 in 24 hours, closely tracking a broader market rise led by Bitcoin. The move is primarily driven by positive macro sentiment, as softer inflation data and a major bank’s bullish Bitcoin forecast eased rate-hike fears, lifting crypto beta.
XRP’s 0.90% gain closely mirrored Bitcoin’s 1.42% rise and the total crypto market’s 0.92% increase. The broader rally was sparked by softer August personal consumption expenditure (PCE) inflation, which reduced expectations for aggressive Federal Reserve rate hikes and boosted risk assets.
The token’s positive price movement was also supported by Citigroup’s bullish forecast as Wall Street bank analysts raised its 12-month Bitcoin target to $113,000,
XRP moved in lockstep with market-wide macro relief, not due to its own news. Bitcoin’s ability to hold above $84,000; a breakdown would likely pull XRP lower.
While Ripple unlocked 1 billion XRP from escrow and Evernorth’s merger passed a shareholder vote, the price reaction was flat to slightly negative in the hours that followed, suggesting these events were likely priced in or viewed as neutral for near-term value.
Trading volume confirmation: sustained low volume suggests the move lacks conviction. The immediate technical structure shows XRP oscillating between support near $1.46–$1.48 and resistance at $1.54–$1.56.
The key upcoming event is Evernorth’s expected Nasdaq listing on October 8, which could attract attention but does not guarantee buying pressure.
The near-term bias is neutral to cautiously bullish, contingent on holding key support. A daily close above $1.54 would signal a breakout toward $1.60; a break below $1.46 would open a path to $1.41.
XRP’s modest gain reflects a beta-driven lift from an improving macro backdrop, not internal catalysts. The coin remains range-bound ahead of a potential shift in sentiment following Evernorth’s public debut. XRP Hovers at $1.50 as Ripple, CSD BR Put Brazilian Fund on XRPL
