XRP declines near $1.10 despite Ripple’s new institutional platform, driven by broader crypto sell-offs amid US inflation concerns.
XRP dropped toward the $1.10 support level on Friday, pressured by a broader crypto market downturn. The decline follows concerns over rising US inflation, fueled by geopolitical tensions in the Middle East and surging oil prices.
The cryptocurrency had struggled to gain traction despite Ripple’s launch of Ripple Mint, an institutional-focused platform. Prior sessions saw XRP trading in a tight range, with limited upward momentum as macroeconomic headwinds dominated sentiment.
Market participants remain cautious amid uncertainty over Federal Reserve policy and global risk appetite, weighing on digital assets across the board.