XRP is trading near $1.02 after briefly dipping to $0.996, up about 1.46% over 24 hours with daily volume near $1.90 billion and a market cap of approximately $63.80 billion. Market sentiment has cooled, however: odds of XRP closing the month above $1 have fallen to 55%, down from 76% just last week, according to commentary from market observer Gemini.
The token faced additional pressure after the Coreum Bridge was exploited. Hackers drained 200,000 XRP by targeting a flaw in Coreum’s verification system. The XRP Ledger itself was not breached, but the incident dented confidence in cross-chain infrastructure.
On the macro side, US CPI rose 3.4% year-over-year in July, down from June and in line with expectations. Core CPI came in at 2.5%. Following the release, odds of a September Federal Reserve rate hike fell to 38% from 54% a week earlier, according to CME Group’s FedWatch tool.
Technical analysts remain cautious. XRP futures open interest stands at 435.1 million XRP versus a 30-day average of 403.6 million, a Z-Score of +1.20σ, prompting warnings that elevated leverage could trigger a liquidation cascade if price weakens further. The RSI sits at 36, with lower highs and lower lows keeping bears in control. Resistance is seen at $1.05–$1.08, while a true trend reversal would require a weekly close above $1.40. A loss of $1 could expose $0.90–$0.86, with deeper support near $0.50.
