XRP Nears $1.30 as Bitcoin Holds Above $80,000

XRP fell 4.66% to about $1.31 in the 24 hours through Oct. 15, reaching a multi-week low. Bitcoin traded between roughly $80,200 and $82,100 across exchanges, with prices mostly between $81,000 and $81,500. Bitcoin was down about 3.03%, while XRP recorded a larger decline.

XRP failed to hold the $1.35-$1.38 range in recent sessions. Its 24-hour trading volume exceeded $2 billion, and the token traded below its 50-day and 200-day exponential moving averages near $1.39-$1.40.

The selling followed September U.S. consumer price data. The Consumer Price Index rose 3.7% from a year earlier, above the 3.6% forecast. Treasury yields increased after the report, while traders raised expectations that the Federal Reserve could keep interest rates high for longer.

Perpetual futures open interest in XRP ranged from about $700 million to $750 million. Long liquidations accounted for much of the forced selling as leveraged bullish positions were closed.

Announcements connected to Ripple have not led to sustained buying in XRP. Standard Chartered has supported Ripple’s RLUSD stablecoin, while Evernorth has announced an XRP treasury. Ripple has also reported partnerships in South Korea, including one involving Meritz Securities. XRP remained under selling pressure while traders focused on economic data and market liquidity.

The market was awaiting the U.S. September final-demand Producer Price Index report on Oct. 15. Economists expected a monthly increase of 0.5% to 0.6%. A reading above forecasts could increase expectations for tighter Federal Reserve policy, while a weaker result could ease interest-rate concerns.

The $1.30-$1.32 range was the nearest support area for XRP. A break below $1.30 on heavy volume could expose the $1.25-$1.28 range. The token would need to recover the $1.38-$1.40 area to return to its recent trading range. Bitcoin’s ability to remain above $80,000 remained a reference point for broader cryptocurrency markets.