XRP Rallies on Softer US Inflation as Binance Reserves Stabilize

Traders are closely watching XRP as US inflation cools down. According to recent data, the Producer Price Index (PPI) in the world's largest economy rose at a lower pace than expected, easing concerns over persistent inflation and supporting risk assets.

The number of tokens held in Binance wallets has remained stable in July, averaging 2.61 billion XRP valued at $2.9 billion on Wednesday. This stability indicates no major surge in immediate sell-side pressure, potentially paving the way for an extended rebound above $1.10.

XRP's upside remains capped by downtrending moving averages and a broader bearish outlook in the crypto market. The Moving Average Convergence Divergence (MACD) indicator edges into positive territory on the daily chart, while the Relative Strength Index (RSI) hovers near 49, suggesting only modest momentum within a capped structure.