XRP Closes Below $1.30 as U.S. Inflation Rises to 3.7%

XRP closed below $1.30 on Thursday, with its Oct. 15 UTC daily candle ending at $1.2901 after reaching $1.2856, as U.S. inflation accelerated to 3.7% in September.

The close was 3.15% below the prior daily close and below a technical level previously used to frame XRP’s near-term support.

The Consumer Price Index rose 0.6% in September after a 0.4% increase in August. Prices were up 3.7% over the 12 months through September, compared with 3.4% in the year through August. Core CPI rose 0.3% for the month and 2.6% year over year. The timing alone does not establish that inflation drove XRP’s decline.

At 11 a.m. ET (15:00 UTC) Thursday, XRP’s 100-day exponential moving average stood at $1.34, its 200-day average at $1.38 and its 50-day average at $1.39. The chart marked $1.30 as SuperTrend support, with $1.12 and $1.00 as lower psychological price levels.