XRP Drops Below $1.30 as Crypto Market Faces $889M in Liquidations

Key Facts

1XRP price fell more than 4% to drop below the $1.30 level during the London session.

2Higher-than-expected US inflation data for September triggered $889 million in crypto market liquidations.

3The probability of an October Fed rate hike rose to 50% after annual inflation accelerated to 3.7%.

XRP price fell more than 4% to drop below the $1.30 level during the London session. Invezz reported that higher-than-expected US inflation data for September triggered $889 million in liquidations across the broader crypto market.

The probability of a Federal Reserve rate hike in October rose to 50% after annual inflation accelerated to 3.7%. The sell-off in XRP followed a breach of technical support levels as macro-economic headwinds and hawkish Fed expectations weighed on digital asset sentiment.