$XRP Slips Below $3 as Market Reacts to Inflation Data and Crypto Week
XRP pulled back to $2.87 on Tuesday after briefly touching $3.03 earlier in the week. The dip comes amid broader market volatility, following Bitcoin’s surge to over $123,000 and a quick correction as traders took profits.
U.S. inflation data added pressure to the market. The Consumer Price Index rose to 2.7% in June, up from 2.4% in May, in line with expectations. While prices remained relatively stable after the release, caution lingered.
Meanwhile, "Crypto Week" in the U.S. is drawing attention. Lawmakers are reviewing several bills aimed at regulating digital assets and banning a federal CBDC. Ripple could benefit from this push, especially with its new USD-backed stablecoin, RLUSD.
Technically, XRP is holding above key support at $2.80. Indicators suggest a possible trend reversal, but much depends on investor sentiment and upcoming economic developments, including new import tariffs in August.
