XRP Bulls Eye a Reversal September Price Forecast
XRP is struggling to stay above its 100 day EMA as market sentiment turns bearish. Its performance in September will largely depend on U.S. economic data especially the Fed’s rate decision.
Even though the market feels gloomy XRP has seen positive returns in September for three years in a row.
On Monday, Ripple showed technical weakness as fears grow that September is often a negative month for crypto. XRP is currently trading above $2.76 with bulls trying to prevent a drop below $2.50.
Important U.S. economic events that may affect XRP this month include
Unemployment rate (Friday)
Producer Price Index (PPI) on September 10
Consumer Price Index (CPI) and Jobless Claims on September 11
The Fed will consider this data before deciding on interest rates on September 17. According to the CME Fedwatch tool, there’s an 87.6% chance the Fed will cut rates by 25 basis points to 4 to 4.25%.
A rate cut could boost risk assets like crypto, helping XRP recover above $3.00. But if rates are not cut, market caution could continue, and risk assets may fall.
Historically, XRP has done well in September:
September 2022: +46.2%
September 2023: +0.42%
September 2024: +7.98%
Technically XRP is struggling to hold the 100 day EMA at $2.76 suggesting downward pressure. However, a daily close above $2.76 could strengthen bullish momentum. XRP previously recovered above $3.00 and broke $3.35 in mid Augustmarking key milestones.
