XRP Stabilizes Around $1.38 Amid Market Caution Before CPI Release
- XRP traded near $1.38, showing a slight decline from $1.3818 to $1.3787.
- Daily transactions on the XRP Ledger exceeded 2.7 million, marking one of the highest activity levels in months.
- XRP-linked investment products have accumulated approximately $1.4 billion since their launch.
- Ripple initiated a $750 million share buyback, valuing the company at around $50 billion.
- Bollinger Bands indicate tightening volatility, suggesting a potential breakout as liquidity returns.
The upcoming U.S. Consumer Price Index release is anticipated to impact Federal Reserve policy and market risk appetite, contributing to XRP’s current consolidation phase between resistance at $1.40 and support near $1.35–$1.37.
Maintaining support above the $1.35–$1.37 area could allow XRP to consolidate further before attempting to reclaim resistance levels around $1.40–$1.42.(Source)
