XRP registered the steepest drop among the top 10 cryptocurrencies by market capitalization over the past 24 hours, declining 6.23% to approximately $1.38, according to CoinMarketCap data.
Market dynamics and price action
The broader crypto market recently navigated major milestones, with Bitcoin crossing the $80,000 threshold earlier in the week before retreating to near $78,000. Investors are now closely watching for the core PCE inflation data and Nvidia’s earnings report, both set for release later today, which are expected to influence market sentiment heading into the annual Jackson Hole event.
Despite the overall improvement in risk appetite this month, XRP’s correction has outpaced those of its peers. The token’s decline contrasts with recent momentum across cryptocurrencies, positioning it as the largest laggard among major digital assets in the past day.
XRP’s price action marks a sharp reversal from last week’s performance. The token soared from roughly $1.00 on August 18 to a high around $1.69 within four days, briefly touching $1.70—an important psychological level—before Bitcoin’s own retracement led to broader weakness among altcoins.
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AAPLWeekly performance and technical signals
Despite the recent pullback, XRP maintains a leading position among top coins for the week, gaining 35.55% over the last seven days. Only Hyperliquid recorded a larger advance, with a 38.65% rise, while XRP outperformed Bitcoin, Ethereum, and other significant tokens.
| Asset | 24h Performance | 7d Performance |
|---|---|---|
| XRP | -6.23% | +35.55% |
| Hyperliquid | N/A | +38.65% |
| Bitcoin | N/A | N/A |
On the current daily candlestick, XRP opened at $1.4344, posted a high of $1.4513, and is trading near $1.3790, reflecting a 3.86% decrease for the day.
The recent correction brings XRP back toward the $1.40 area, a significant level that flipped from resistance to support during last week’s breakout. This is also where XRP moved above its 200-day exponential moving average, a development that some analysts interpreted as an early indicator of potential trend reversal.
Technical readings present a mixed picture. The Relative Strength Index (RSI) stands at 66.7, indicating ongoing bullish momentum but nearing the 70 mark, which often signals overbought conditions and an increased likelihood of profit-taking. Meanwhile, the Average Directional Index (ADX) registers 44.1—far above the 25 threshold that signals a trending market—with the DI+ line still leading the DI-, suggesting bullish bias remains intact.
However, the relationship between short-term and long-term moving averages currently favors caution. The 50-day exponential moving average remains below the 200-day EMA, underscoring the lingering effects of the broader downtrend that characterized XRP’s price structure for much of the year, even as the latest rally unfolded.
Institutional flows and market outlook
One notable development has been the continued inflows into XRP-linked exchange-traded funds (ETFs)—traditional investment products designed to track the price of XRP without direct exposure to the underlying asset. These funds have recorded nine consecutive days of net inflows, pointing to sustained institutional interest even amid recent volatility.
Mini dictionary: XRP-linked ETF, a type of exchange-traded fund that reflects the price of XRP without the need for direct ownership, allowing traditional investors to gain exposure to cryptocurrency markets with regulated products.
Bitcoin’s performance in the $77,000–$78,000 range is seen as a crucial factor for the entire altcoin market, including XRP. The upcoming PCE inflation print and Nvidia’s earnings report are anticipated to be key short-term drivers. Analysts suggest the $1.40 level will be vital for XRP’s immediate outlook: holding above it could confirm a standard pullback, while losing it on a daily close might trigger further downside toward previously established support zones.
Whether XRP holds the $1.40 support zone or breaks lower may determine if it maintains its weekly rally or extends the correction, as traders weigh the latest market catalysts and technical signals.
