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XRP $1 level at risk as altcoin market enters \'panic zone\'

XRP has slid to just above $1, heightening market tension over whether key support will break, while other major altcoins show continued downtrends alongside early rebound attempts. XRP trades near $1.12 after breaking a months-long descending triangle and key horizontal support, with indicators pointing to further weakness. Ethereum remains in a downtrend but has stabilised near $1,600 after a sharp fall. Cardano dropped to $0.16 after breaking support, with extreme oversold readings and resistance levels limiting upside.

Crypto

Kalshi launches XRP perpetual futures trading as U.S. crypto derivatives expand

Prediction market Kalshi has started trading XRP perpetual futures contracts, expanding its so-called American Perpetuals offering for U.S. traders. The launch follows a shift in the U.S. regulatory environment after the Commodity Futures Trading Commission allowed Kalshi to offer its first bitcoin-linked perpetual futures product. Kalshi submitted derivatives tied to 12 major altcoins, including ether, solana, dogecoin and XRP. Trading volume on its crypto perpetuals platform reached $100 million within 24 hours of launch.

Crypto

U.S. consumer inflation jumps most in three years; bitcoin and ether hold up amid market jitters

U.S. May consumer prices posted the biggest annual rise in three years, stoking concerns the Federal Reserve could keep policy tight for longer. The CPI rose 4.2 percent from a year earlier and 0.5 percent from April, in line with expectations. Despite the data, cryptocurrencies pared losses and rebounded, with bitcoin edging up over 24 hours and ether and solana also rising. Analysts cited energy prices and geopolitical tensions as drivers.