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XRP lags as Bitcoin stabilizes after CPI-driven rally

XRP is down 0.5% to about $1.10 and faces a delayed catalyst, with a Clarity Act Senate floor vote now expected in late July or August at the earliest.

Reported · Written up by our desk · Market Structure

Decrypt data show Bitcoin cleared $65,000 while Ethereum rose nearly 6% in the week following softer inflation data, but XRP’s move has been muted. XRP trades around $1.10, down 0.5%, with an overall indicator score of negative 42% and a confirmed death cross on the daily chart.

Decrypt also points to a macro link, saying the June Consumer Price Index fell 0.4%, the steepest single-month drop since April 2020, which helped collapse expectations for a July Fed rate hike from 31% to single digits. It added that Wall Street earnings later boosted sentiment, with major banks including Goldman Sachs, JPMorgan, Morgan Stanley, and Citi beating Q2 expectations.

On the altcoin side, most top 50 cryptocurrencies were off less than 3% during Thursday’s orderly pullback, with Ondo the notable exception up more than 14%. Decrypt writes that XRP’s biggest near-term catalyst, a Senate floor vote on the Clarity Act, has slipped past July 4 and now looks likely in late July or August at the earliest.

Decrypt attributes XRP’s underperformance to capital not spreading evenly when money cautiously re-enters crypto after a risk-off period, with Bitcoin absorbing first and Ethereum often leading broader recoveries. It also cites the Altcoin Season Index at 45 as evidence that capital has not rotated down to altcoins yet.

Latest closeBitcoin $64,154.58 ▼0.9%|Ethereum $1,873.45 ▼2.3%|XRP $1.092 ▼1.8%

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