XRP Price: Bulls Defend Key Support After Hot U.S. Inflation Data Rattles Crypto Market

TLDR XRP fell nearly 6% after a hotter-than-expected U.S. PPI report, then recovered to a session high of $1.34. Crypto liquidations reached $1.7 billion over four days, while XRP ETFs drew just $13 million in October. XRP exchange inflows have dropped since a spike in September, which may ease selling pressure. Analyst Ali Charts is watching $1.25 as a possible buying area, with targets at $1.42 and $1.60. A move above $1.45 is needed to confirm a trend reversal, while a break below $1.30 could expose $1.25. XRP dropped by nearly 6% during Wednesday’s session after the U.S. Producer Price Index (PPI) came in far above forecasts. Analysts expected a 0.5% monthly rise, but the report showed 1.3%. Higher energy prices continue to push wholesale costs up.

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