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XRP(XRP) fell about 6.6% on Aug. 26 to around $1.37, leading losses among the top 10 cryptocurrencies after a 70% rally pushed the token to $1.69 days earlier.
Key Points:
- XRP fell about 6.6% on Aug. 26 after a nearly 70% five-day rally carried it to $1.69.
- Analysts identify $1.40 as the key support, with $1.30 to $1.20 at risk if it breaks.
- XRP-linked ETFs have recorded six consecutive days of net inflows despite the price correction.
XRP Price Pullback
XRP’s retreat <a href="https://beincrypto.com/xrp-leads-crypto-pullback-market-drop/” rel=”nofollow noopener” target=”_blank”>followed a rapid advance from $0.9877 on Aug. 17 to a three-month high of $1.69 on Aug. 22, with the move outpacing Bitcoin(BTC) and Ethereum(ETH) over the same period. The daily relative strength index reached 88 during the surge, matching a level last seen around XRP’s July 2025 record near $3.65.
The reversal then erased about 18% from the recent peak and pushed XRP back toward the $1.40 to $1.38 area. Broader market weakness added pressure after Bitcoin moved above $80,000 before easing toward $78,000 as traders prepared for core PCE inflation data, NVIDIA earnings and Jackson Hole.
The pullback also came as leveraged positions unwound, while XRP-linked exchange-traded funds recorded six consecutive days of net inflows
ChartNerdTA Outlook
Crypto analyst ChartNerdTA said the earlier move represented a genuine breakout fueled by a short-seller liquidity trap and positive funding rates, rather than random volatility. He described the decline as a “healthy correction” that could reset overbought conditions, with $1.40 now serving as the main near-term support.
A daily close below $1.40 could expose support between $1.30 and $1.20, while a deeper decline could bring $1.00 back into view. ChartNerdTA said a recovery above the weekly 50 EMA near $1.54 could reopen the path toward $1.70 and potentially $1.80 to $2.00.
EGRAG CRYPTO offered a more cautious view, warning that fractal patterns can invite confirmation bias and that failure to revisit recent lows could leave momentum traders vulnerable. CryptoQuant analyst Pelinay separately noted long liquidations of $4.66 million, up 31.82% in a day, suggesting selling pressure could continue before the market stabilizes.
The correction follows a volatile stretch in which XRP gained nearly 70% in five days, after falling as low as $0.9877 on Aug. 17. That sharp rebound and the subsequent retreat have left $1.40 as the immediate dividing line between consolidation and a deeper retracement.
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Source: yellow.com