XRP trading could get spicy after CPI report as futures bets hit highest since October

Crypto Daybook AmericasXRP trading could get spicy after CPI report as futures bets hit highest since OctoberYour day-ahead look for Aug. 12, 2026By Omkar Godbole|Edited by Sheldon Reback45 min ago3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowThis is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.Wednesday’s big story is XRP (XRP), the payments-focused cryptocurrency. Not only did a bridge linking to the XRP Ledger experience an exploit early today, but the token price also hovers near a level that, if breached, could embolden bears. That level is $1. Prices briefly fell to 99 cents on some exchanges on Tuesday and, while they quickly recovered, the bounce looked to have stalled near $1.02. XRP has lagged behind bitcoin and the broader market recovery in recent days.What’s more, open interest in XRP futures has risen to 2.67 billion XRP ($2.73 billion), the most since October, from 2.25 billion XRP at the start of the month. This buildup of leverage while XRP trades at this price points to potential volatility.That means XRP is more vulnerable than other major cryptocurrencies such as bitcoin BTC$64,174.17, ether ETH$1,912.69 and solana (SOL) to the U.S. CPI release later today. A hotter-than-forecast reading would strengthen bets on Fed interest-rate increases and drive already-buoyant Treasury yields higher, creating headwinds for risk assets.Forecasts point to 0.1% month-on-month growth in the headline CPI for July, up from June’s –0.4% reading. The year-on-year figure is expected at 3.4%, down from 3.5%, and annual core CPI inflation is seen dropping to 2.5% from 2.6%.According to ING, a softer-than-expected print could weaken the dollar, an outcome that could bode well for the crypto market.In bitcoin’s case, traders are hoping the report will push the price out of its recent trading range of $62,000 to $66,000. However, the way BTC options a…

XRP trading could get spicy after CPI report as futures bets hit highest since October

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