XRP Price Plunges to $1.05 After a Hot CPI Report: Will the Support Stand?
Image: Coinspeaker
Ripple XRP fell to $1.05 on Tuesday within five minutes of the U.S. October consumer price index (CPI) report, which showed XRP USD price rising faster than economists expected. XRP crypto traded at $1.0797 when the report came out at 8:30 a.m. in New York, or 13:30 UTC. By 13:35 UTC it had touched $1.0500 on Binance, a 2.8% drop and its lowest price since August 19. It has since bounced to about $1.07. Bitcoin fell with it, dropping to $73,525 in the same five minutes. The drop puts XRP back on a level it has tested before. Between late June and mid-August, XRP traded around $1.05 for weeks. The level held the first time and broke the second.
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