ChainCatcher report: XRP fell 6.23% over the past 24 hours to approximately $1.38, becoming the worst-performing asset among the top ten cryptocurrencies by market cap. Previously, XRP surged from around $1 on August 18 to $1.69 in just four days, briefly touching the psychological $1.70 mark. The pullback is primarily attributed to leveraged liquidations. Despite this, XRP still rose 35.55% over the past week, second only to Hyperliquid’s 38.65% weekly gain. Notably, XRP-related ETFs have recorded net inflows for nine consecutive days, indicating that institutional investors have not exited—the issue lies primarily with leverage, not capital outflows. Bitcoin rose above $80,000 on Tuesday before retreating to around $78,000, dragging down the broader altcoin market. The market is now awaiting tonight’s core PCE inflation data and NVIDIA’s earnings report; whether XRP can hold its $1.40 support level will determine if this pullback is a healthy correction or a sign of further downside.
XRP drops 6.23% amid leverage liquidations, yet remains up 35.55% for the week.
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Summary
XRP fell 6.23% over the past 24 hours to $1.38, marking the largest decline among the top 10 altcoins to watch. The sell-off followed a rapid surge to $1.69 within four days, now triggering leverage liquidations. Despite this, XRP is still up 35.55% in the weekly market report, second only to Hyperliquid’s 38.65% gain. XRP ETFs recorded nine consecutive days of net inflows, signaling strong institutional interest. Bitcoin briefly reached $80,000 before retreating to $78,000, pulling altcoins lower with it. Traders are monitoring the $1.40 support level ahead of the PCE data release and NVIDIA’s earnings report.
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