XRP is leading a broader pullback in the crypto market on August 26, sliding roughly 6.6% over 24 hours to trade near $1.37, the worst performance among the top 10 cryptocurrencies.
The decline follows one of the token's strongest weekly rallies in recent memory, and traders are now watching whether the pain has only just begun.
XRP rocketed from a cycle low of $0.9877 on August 17 to a three-month high of $1.69 by August 22, a nearly 70% gain that outpaced Bitcoin's 23.6% and Ethereum's 28.1% over the same stretch.
That speed left momentum indicators deeply overbought, with the daily RSI reaching 88, a level last seen during July 2025's all-time high near $3.65.
Crypto ****** yst ChartNerdTA described the surge as a genuine breakout rather than noise, driven by a liquidity trap for short sellers and positive funding rates. The subsequent unwind has since produced an 18% decline from the $1.70 peak, pulling the price into the $1.40-$1.38 range.
#Crypto #decline #july #pullback
The decline follows one of the token's strongest weekly rallies in recent memory, and traders are now watching whether the pain has only just begun.
XRP rocketed from a cycle low of $0.9877 on August 17 to a three-month high of $1.69 by August 22, a nearly 70% gain that outpaced Bitcoin's 23.6% and Ethereum's 28.1% over the same stretch.
That speed left momentum indicators deeply overbought, with the daily RSI reaching 88, a level last seen during July 2025's all-time high near $3.65.
Crypto ****** yst ChartNerdTA described the surge as a genuine breakout rather than noise, driven by a liquidity trap for short sellers and positive funding rates. The subsequent unwind has since produced an 18% decline from the $1.70 peak, pulling the price into the $1.40-$1.38 range.
#Crypto #decline #july #pullback
2 months ago
