MUMBAI, Jan 12, 2026, 16:57 IST — The market has closed.
- XRP slipped back to around $2, or about ₹184, going against the upward trend seen in larger tokens. 1
- Traders across asset classes grew cautious following Fed Chair Jerome Powell’s comment that the Trump administration had threatened a criminal indictment. 2
- Attention turns to Tuesday’s U.S. December CPI report, a crucial factor for rate speculation. 3
XRP dipped on Monday, lingering just below the $2 level as traders digested new political tensions involving the U.S. Federal Reserve and braced for crucial U.S. inflation figures. 4
This shift is significant since crypto markets have lately responded less to token news and more to quick shifts in rates and risk appetite. Powell’s showdown with the White House weakened the dollar and sent funds toward safe havens, forcing traders to sift through what happens next. 5
Rate expectations are shifting. After the latest U.S. labor data, J.P. Morgan, Barclays, and Goldman Sachs have all revised their forecasts. Traders now strongly favor the Fed holding rates steady at the January meeting, according to a Reuters report. 6
Bitcoin and ether edged higher, maintaining their status as the crypto market’s primary liquidity centers. Smaller tokens like XRP saw more volatile, two-way trading. 7
XRP slipped roughly 2% over the past 24 hours, hitting around ₹184 per token in India, according to CoinGecko data. The cryptocurrency has eased off since its jump early in January, losing ground from last week’s highs. 8
Indian stocks bounced back, ending a five-day slide following news that a U.S. envoy plans to discuss trade matters with New Delhi on Jan. 13. The Nifty 50 climbed 0.42%, while the Sensex gained 0.36%, Reuters reported. 9
In the currency markets, both the euro and Swiss franc gained ground after the Powell situation cast doubt on the dollar’s safe-haven status. “This already justifies a higher U.S. dollar risk premium today,” said Thu Lan Nguyen, head of forex and commodity research at Commerzbank. 10
XRP, the token linked to U.S. crypto firm Ripple, has remained volatile amid regulatory and market structure changes since the SEC’s protracted lawsuit wrapped up with a $125 million civil fine in August, according to a court filing. 11
Investors are also watching equity-linked moves tied to XRP. Evernorth, a Ripple-backed venture, announced in October plans to go public on Nasdaq through a SPAC merger and create a treasury aimed at hoarding XRP. CEO Asheesh Birla told Reuters, “We will look at acquisition opportunities.” 12
Yet XRP still reacts sharply to unexpected macro data or tighter liquidity, particularly near U.S. policy announcements. A stronger-than-forecast inflation number might reignite worries about rates staying “higher for longer,” weighing on riskier crypto assets.
Tuesdays brings the U.S. consumer price index for December, set for release at 8:30 a.m. ET (7:00 p.m. IST). The Federal Reserve’s policy meeting on January 27–28 follows later this month. 13
