TLDR
- XRP is trading near $1.02, up 1.46% in 24 hours, with a $63.80 billion market cap
- The Coreum Bridge was hacked, draining 200,000 XRP — the XRP Ledger itself was not breached
- US CPI came in at 3.4% year-over-year, pushing odds of a September Fed rate hike down to 38%
- Key resistance sits at $1.05–$1.08, with $1.40 being the level needed to confirm a true trend reversal
- A break below $1 could expose $0.90–$0.86, with $0.50 as a deeper support zone
XRP is holding just above the $1 mark after a brief dip to $0.996, recovering to around $1.02. The token is up about 1.46% in the past 24 hours, with daily trading volume near $1.90 billion and a market cap of approximately $63.80 billion.
The recovery comes after a turbulent stretch for XRP. This week, the Coreum Bridge — a cross-chain protocol — was exploited by hackers who drained 200,000 XRP tokens. The attackers targeted a flaw in Coreum’s verification system.
The XRP community was quick to clarify that the XRP Ledger itself was not compromised. The vulnerability was specific to Coreum’s code. Still, bridge hacks tend to dent confidence in blockchain-based infrastructure more broadly.
US Inflation Data Shifts Rate Expectations
On the macro side, the US Bureau of Labor Statistics reported that the Consumer Price Index rose 3.4% over the past 12 months. That’s down 10 basis points from June and matched analyst forecasts.
BREAKING: July CPI inflation falls to 3.4%, in-line with expectations of 3.4%
Core CPI inflation falls to 2.5%, also in-line with expectations of 2.5%.
Month-over-month CPI inflation rose +0.1%, up from -0.4% in June.
US stock market futures are rising on the news.
— The Kobeissi Letter (@KobeissiLetter) August 12, 2026
Following the release, odds of a Federal Reserve rate hike in September fell to 38%, down from 54% just a week earlier, according to CME Group’s FedWatch tool. Three Fed governors had dissented at the last meeting, pushing for a rate increase given that inflation remains well above the 2% target.
Analyst Crypto Patel flagged a concern on X, noting that XRP futures open interest stands at 435.1 million XRP against a 30-day average of 403.6 million — a Z-Score of +1.20σ. Patel warned that price weakness combined with elevated open interest means leverage is still stacked, and a further drop could trigger a liquidation cascade.
$XRP OI Is Flashing A Warning#XRP Futures OI: 435.1M XRP vs 30D Avg: 403.6M → Z-Score: +1.20σ.
Price Weakness + Elevated OI = Leverage Is Still Stacked.If XRP Dumps Further, This Setup Could Turn Into A Liquidation Cascade. pic.twitter.com/bDpzWw1HpR
— Crypto Patel (@CryptoPatel) August 12, 2026
Technical Picture Still Bearish
The Relative Strength Index sits at 36. Readings below 40 are generally read as a sell signal. XRP is also forming lower highs and lower lows, a classic bearish pattern.
Market analyst Diana identified $1 as the line in the sand for near-term direction. Holding above it keeps the $1.05–$1.08 resistance range in play. A push through $1.20 could open up $1.29–$1.37.
🚨XRP Is BOUNCING From $1.00 — Is $0.86 STILL Coming, or Is This the Setup for ATH → $8–$16? 🤯🔥$XRP is showing signs of life again after testing the psychological $1.00 region, with price recovering toward $1.02. 👀
But this is where the chart gets VERY interesting.$XRP… https://t.co/5Ijl449QLr pic.twitter.com/2PyXukO0F4
— Diana (@InvestWithD) August 11, 2026
However, a true trend reversal would require breaking the $1.40 weekly resistance level, which has turned back previous recovery attempts.
If $1 fails as support, the first downside targets are $0.90–$0.86. A deeper breakdown puts $0.50 in focus.
XRP remains in a descending price channel. The RSI at 36 and the current technical structure reflect that bears remain in control of price action.
