XRP dropped 6.23% over the past 24 hours to around $1.38, the steepest decline among the top 10 cryptocurrencies by market capitalization, according to CoinMarketCap data. The pullback stands in sharp contrast to the token’s still-strong weekly performance: XRP remains up 35.55% over seven days, trailing only Hyperliquid’s 38.65% gain among the largest digital assets.
The reversal follows an aggressive rally that took XRP from roughly $1.00 on August 18 to an intraday high near $1.69 just four days later, briefly testing the psychologically important $1.70 level. That surge lost steam as Bitcoin pulled back from its own move above $80,000 on Tuesday toward the $78,000 zone on Wednesday, dragging altcoins lower across the board.
On the daily chart, XRP opened at $1.4344, reached a high of $1.4513, and was trading near $1.3790, down 3.86% on the current candle. The token is now retesting the $1.40 zone that flipped from resistance to support during last week’s breakout and where it reclaimed its 200-day exponential moving average. Whether that level holds on a daily close could determine whether this remains a healthy cooldown or extends into a deeper correction.
Momentum indicators are mixed. The Relative Strength Index sits at 66.7, still bullish but approaching the 70 level often associated with profit-taking. The Average Directional Index is running hot at 44.1, confirming a strong trend, while the positive directional line remains above the negative one. However, shorter-term moving averages remain below longer-term averages, a bearish structural holdover from the broader downtrend that has defined XRP for much of the year.
One notable bright spot is that XRP-linked exchange-traded funds have recorded nine consecutive days of net inflows, suggesting the current weakness is more likely a leverage unwind than a wave of institutional selling. Looking ahead, traders are watching Bitcoin’s ability to hold the $77,000–$78,000 area, with tonight’s core PCE inflation data and Nvidia’s earnings report seen as the next major catalysts for the wider market.
