XRP is flashing a major breakout signal, analyst says

$XRP has declined 2.5% over the past 24 hours to around $1.38, moving largely in line with the broader crypto market as investors become more cautious ahead of key U.S. inflation data scheduled for today, March 11.

The pullback, then, appears primarily macro-driven, with digital assets retreating as traders await the latest reading of the U.S. Consumer Price Index (CPI), a major inflation gauge that could influence the Federal’s decisions going forward.

However, technical indicators are also starting to suggest that a significant volatility event may be approaching. Namely, the daily $XRP chart is showing signs of a Bollinger Band squeeze, a pattern that typically occurs before a sharp price move, according to analyst Ali Martinez.

A decisive break above that could lead to an inverse head-and-shoulders pattern, potentially opening the path toward $1.67. However, failure to maintain support around $1.35 could push the price toward the $1.30–$1.32 range.

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