XRP Rises as Citigroup Revises Forecast for US Fed Rate Policy
Ripple (XRP) price rose slightly to $1.15 on Monday, modestly trailing a broader market recovery, supported by improved macro sentiment and renewed institutional flows into Bitcoin exchange-traded funds (ETFs).
The token shifted due to market-wide recovery led by Bitcoin, fuelled by softer U.S. jobs data and a return of spot ETF inflows. XRP’s modest gain aligns with a 1.04% rise in Bitcoin and a 0.96% increase in the total crypto market cap over the same period.
The broader rally was sparked by weaker-than-expected U.S. Nonfarm Payrolls data, which eased fears of aggressive Federal Reserve rate hikes and improved risk appetite across crypto. Citigroup has revised its forecast for Federal Reserve policy, now predicting the first interest rate cut will occur in October.
The bank’s analysis cites significantly weaker-than-expected June non-farm payroll data and the fading of previous inflationary pressures, such as high oil prices and accelerated wage growth, as key reasons the rationale for further hikes has “disappeared.”
Crypto analysts and traders acknowledge that XRP moved in lockstep with the market, indicating its short-term price is more sensitive to macro sentiment and Bitcoin’s direction than to its own fundamentals.
Still, the uptick lacks a strong, identifiable catalyst, making it vulnerable to reversal if broader market support fades. The immediate technical picture is neutral. XRP faces immediate resistance at the 50% Fibonacci retracement level of $1.15, with stronger supply expected at $1.20–$1.24.
Support is firm at $1.08–$1.10, according to technical traders. The key near-term trigger is U.S. Consumer Price Index (CPI) inflation data on July 14, which will influence Fed policy expectations and risk asset flows.
The path of least resistance is sideways consolidation unless a macro catalyst or surge in XRP-specific demand emerges. A daily close above $1.20 to signal a breakout, or a break below $1.10 to invalidate the recent recovery structure.
XRP’s 24-hour gain reflects a market-wide sigh of relief on softer jobs data, not a standalone bullish story. The coin remains trapped between key technical levels with subdued volume. Ripple – XRP Price Spikes to $1.14 on Short Squeeze
