XRP falls to $1.09 as investors brace for US inflation data

XRP dropped to $1.09 on November 9, deepening its recent slide as market participants positioned for a pivotal US inflation report expected to influence the Federal Reserve’s next interest-rate moves.

Key support levels breached as downtrend accelerates

Earlier in the week, analysts highlighted $1.15 as a critical support zone for XRP. As that level gave way, selling pressure intensified and brought immediate attention to $1.08, with wider market focus shifting toward the psychologically significant $1 threshold.

The cryptocurrency’s near-term chart structure remains bearish, shaped by a consistent sequence of lower highs and lower lows. After a brief rebound that lifted prices toward $1.34 on November 4, fresh selling emerged, driving XRP below $1.20, followed by a loss of $1.15 and $1.10.

This new round of declines comes on the back of a previous 10% downturn that further undermined investor confidence.

Support is now found near $1.08, which matches the day’s intraday low on major trading platforms. If this level fails to hold, the next key area is $1.05, and, ultimately, the $1 mark could become the primary focus if selling persists.

Upside attempts must first reclaim the $1.10–$1.12 range to signal improved buying momentum. Overhead resistance now stands at $1.15, a level that has shifted from support to a likely selling zone. A decisive move above $1.15 would brighten the short-term outlook, while regaining $1.20 could suggest the start of a more substantial price recovery.

Level Role Current Status $1.34 Recent High Resistance $1.20 Minor Resistance Broken $1.15 Key Support/Resistance Now Resistance $1.10–$1.12 Immediate Range Potential Rebound Zone $1.08 Immediate Support Tested $1.05 Next Support In Focus if Decline Continues $1.00 Psychological Support Possible Target

US inflation data in focus for crypto markets

All eyes now turn to October’s Consumer Price Index, which the US Bureau of Labor Statistics will release on Tuesday, November 10, at 8:30 a.m. ET. This follows better-than-expected employment data that lifted odds of tighter monetary policy from the Federal Reserve.

Traders continue to closely track economic indicators for guidance on the US central bank’s rate outlook, as shifting forecasts can strongly impact sentiment in cryptocurrencies and other risk-driven assets.

XRP’s recent price action has left it vulnerable to macroeconomic shocks, with upcoming inflation data seen as a potential catalyst for further volatility.

An elevated inflation reading could reinforce expectations of higher interest rates, typically weighing on digital assets. Conversely, cooler inflation might calm nerves and encourage a market rebound, though it would not guarantee a reversal of XRP’s short-term downtrend.

Liquidation risks mount for XRP-backed lending

The ongoing selloff is also raising risks for leveraged traders utilizing XRP-linked tokens as collateral. According to a lending analysis, approximately $8.84 million in positions across 1,070 accounts on Morpho could face liquidation if collateral values drop another 10% from the November 6 mark.

It is important to note that these figures reference a historical stress test scenario and do not account for confirmed liquidations linked to today’s market activity. Meanwhile, an anticipated lending upgrade to the XRP Ledger (XRPL) has not yet achieved the activation threshold required for implementation, reducing its relevance as a near-term catalyst.

Longer-term improvements proposed for XRPL remain separate from the current macro-driven price moves observed in XRP markets.

Mini dictionary: Morpho is a decentralized lending protocol enabling users to supply and borrow assets on the blockchain using various forms of crypto collateral, with automated liquidation mechanisms in place to manage risk for lenders.

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