XRP Price Maintains $1 Support Amid Coreum Hack and Shifting Fed Rate Outlook

Key Highlights

• XRP maintains price near $1.02 with 1.46% daily gain and market capitalization of $63.80 billion
• Coreum Bridge exploit resulted in 200,000 XRP token drain — XRP Ledger security remained intact
• Consumer Price Index registered 3.4% annual increase, reducing September Fed rate hike probability to 38%
• Critical resistance zones identified at $1.05–$1.08, requiring $1.40 breakthrough for bullish reversal confirmation
• Downside risk emerges if $1 support fails, potentially exposing $0.90–$0.86 with $0.50 representing deeper support

XRP has stabilized slightly above the critical $1 threshold following a temporary retreat to $0.996, with current trading levels hovering around $1.02. The digital asset has registered approximately 1.46% growth over the last 24-hour period, accompanied by trading volume approaching $1.90 billion and maintaining a market capitalization near $63.80 billion.

XRP Price

This price stabilization follows a challenging period for the cryptocurrency. Earlier this week, security vulnerabilities in the Coreum Bridge — a cross-chain protocol facilitating interoperability — were exploited by malicious actors who successfully extracted 200,000 XRP tokens. The breach specifically targeted weaknesses within Coreum’s verification infrastructure.

Members of the XRP ecosystem were swift to emphasize that the core XRP Ledger remained secure and uncompromised. The security flaw was isolated to Coreum’s proprietary codebase. Nevertheless, such cross-chain protocol exploits typically erode broader market confidence in decentralized infrastructure security.

Inflation Report Alters Federal Reserve Rate Trajectory

On the macroeconomic front, the US Bureau of Labor Statistics disclosed that the Consumer Price Index advanced 3.4% on an annual basis. This figure represents a 10 basis point decline from June’s reading and aligned precisely with market expectations.

In response to this data release, the probability of a Federal Reserve interest rate increase in September declined to 38%, representing a significant drop from the 54% probability recorded just seven days prior, based on CME Group’s FedWatch monitoring tool. At the most recent Federal Reserve meeting, three governors voted against the majority decision, advocating for tighter monetary policy given inflation levels remain substantially above the central bank’s 2% objective.

Market analyst Crypto Patel raised concerns via X platform, highlighting that XRP futures open interest currently stands at 435.1 million XRP compared to the 30-day average of 403.6 million — representing a Z-Score of +1.20σ. Patel cautioned that the combination of price vulnerability and elevated open interest indicates substantial leverage accumulation, creating conditions where additional price decline could spark a liquidation chain reaction.

Technical Analysis Indicates Bearish Momentum

The Relative Strength Index currently registers at 36. Technical analysis typically interprets readings beneath 40 as bearish signals. Additionally, XRP’s price action displays a pattern of declining peaks and troughs, representing a textbook bearish formation.

Technical analyst Diana pinpointed $1 as the decisive level determining immediate price direction. Maintaining support above this threshold preserves the possibility of testing the $1.05–$1.08 resistance band. Successfully penetrating $1.20 could activate targets in the $1.29–$1.37 range.

Nevertheless, confirming an authentic trend reversal would necessitate clearing the $1.40 weekly resistance barrier, which has previously rejected multiple recovery attempts.

Should the $1 support level break down, initial downside objectives emerge at $0.90–$0.86. More substantial selling pressure could bring the $0.50 zone into focus.

XRP continues trading within a descending price channel. The combination of a 36 RSI reading and the prevailing technical framework suggests bearish forces maintain dominance over current market dynamics.

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