XRP Faces Downside Pressure Following Hotter-Than-Expected US Inflation Data

Key Facts

1The U.S. CPI inflation report for September came in hotter than expected today.

2Odds of an October rate hike doubled to 44% following the inflation data release.

3XRP price faces a potential drop toward the $1.25 support level due to inflation pressures.

The U.S. CPI inflation report for September came in hotter than expected today, triggering a shift in market expectations. FX Empire reported that the odds of an October interest rate hike doubled to 44% immediately following the release of the inflation data.

XRP price now faces a potential drop toward the $1.25 support level due to mounting inflation pressures and a broader risk-off sentiment. The technical outlook suggests a continued downtrend as higher-than-anticipated inflation strengthens the case for tighter monetary policy.