XRP Price Tanks as Bears Strike after U.S. Inflation Data
Ripple (XRP) price tanked by about 5% to $1.30 on Thursday, underperforming a broader market sell-off primarily driven by macro fears over persistent inflation.
Broader crypto market decline triggered by hotter-than-expected U.S. inflation data, raising fears of prolonged higher interest rates.
Bitcoin fell 3.09% and the total market cap dropped 3.51% after a hotter-than-expected U.S. Consumer Price Index report. This sparked fears of “higher-for-longer” interest rates, pressuring risk assets.
US inflation rose more than expected to 3.7 per cent in the year to September, driven largely by soaring fuel prices amid disruptions to energy supplies linked to the conflict involving the US, Israel and Iran.
The latest figure, released by the US Bureau of Labor Statistics, represented an increase from 3.4 per cent recorded in the 12 months to August, adding to concerns about the cost of living ahead of the country’s midterm elections next month.
XRP’s 24-hour correlation with the S&P 500 was 0.97, showing it moved in lockstep with traditional markets. XRP’s drop was not coin-specific but part of a macro-driven risk-off move across crypto.
Technically, price broke below the 200-day Simple Moving Average ($1.28) and the 50% Fibonacci retracement level ($1.45), with Relative Strength Index at 38.18 indicating weak momentum. XRP is underperforming in a risk-averse climate and has broken key technical supports, inviting further selling.
The immediate outlook hinges on the $1.28 support (200-day SMA). If this level holds alongside a neutral Producer Price Index print, a relief bounce toward the $1.38–$1.40 resistance zone is plausible.
However, a break below $1.28 could trigger a swift decline toward the next major support at the 78.6% Fibonacci level near $1.25. The structure is bearish but oversold, setting up for a potential bounce or further breakdown.
A daily close below $1.28 to confirm bearish continuation. XRP’s decline is part of a macro-driven market retreat, exacerbated by altcoin rotation and a technical breakdown.
Brokerage service provider DriveWealth has partnered with Ripple to integrate Ripple’s stablecoin settlement, cross-border payment, and digital asset custody services into its brokerage platform.
The two parties will initially launch settlement operations in Europe and plan to expand the services to the United States.
This integration will utilize Ripple’s $RLUSD stablecoin on the $XRP Ledger, enabling DriveWealth customers to use stablecoins that can be nearly instantly converted into fiat currency for funding and managing collateral accounts; meanwhile, both parties are also exploring opportunities for equity financing via Ripple Prime.
Evernorth Holdings Inc. completed its public debut on Nasdaq (ticker: XRPN) after merging with a special purpose acquisition company. The firm holds approximately 473 million XRP (worth $615 million at current prices) and $300 million in cash.
It simultaneously named Ripple, Kraken, Coinbase, and BitGo as institutional execution partners to deploy its treasury into investment strategies starting in Q4 2026. Oil Rises as Iran-Backed Houthis, Saudi Arabia Tensions Escalate
