XRP rebounds above $1.32 after 6% drop, eyes $1.45 breakout on ETF weakness

XRP recovered to $1.34 after briefly dipping below $1.32 as US producer inflation data triggered volatility across cryptocurrency markets. The token fell nearly 6% on Thursday before buyers intervened near a closely monitored support level. This rebound limited further losses, though analysts remain cautious about the overall technical trend. September’s US Producer Price Index (PPI) rose 1.3% month-over-month, significantly exceeding analyst expectations of 0.5%. Core PPI, which strips out food and energy, increased 0.7% against forecasts of 0.3%, marking a sharper rise of 0.5 percentage points over the previous month. These figures followed a higher-than-expected Consumer Price Index release, intensifying concerns around stubborn inflation and its impact on Federal Reserve policy. Ripple effects were felt throughout the crypto market, with traders quickly reacting to signs of persistent inflation pressure.

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