XRP Traders Bet on Breakout as CPI Becomes Key Market Catalyst
- XRP trades near $1 as traders brace for CPI-driven volatility in the coming hours.
- Leverage is rising while spot and futures buying weaken.
- A soft CPI could spark a breakout, while hot inflation may push XRP lower.
XRP is stuck in a tight range. But under the surface, traders are getting ready for a big move. All eyes are on the U.S. Consumer Price Index (CPI) report, a monthly inflation reading that shakes crypto and stock markets.
XRP is trading at $1.01, up 1.48% today. It touched $0.9916 yesterday, the first time it dropped below $1 since November 2024. The token is down 4.26% over the past week and down 46% since the start of the year.
That puts XRP in a narrow near-term range between roughly $0.99 and $1.01. A sustained move above $1.10 would signal a potential breakout, while a break below the $0.99 area could open the door to further downside.
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