XRP is down 6.23% over the past 24 hours to around $1.38, marking the steepest decline among the ten largest cryptocurrencies by market cap according to CoinMarketCap data. The token is retreating from an aggressive four-day surge that pushed it from roughly $1.00 to an intraday high near $1.69, a move that briefly touched the $1.70 level before broader market weakness set in.
This sharp reversal follows a week where XRP outperformed most of the digital asset market. The token remains up 35.55% over the past seven days, trailing only Hyperliquid's 38.65% weekly gain among the top ten and significantly outpacing Bitcoin and Ethereum. The recent pullback coincides with Bitcoin cooling toward the $78,000 zone after clearing $80,000 for the first time in months on Tuesday. Traders are now focused on core PCE inflation data and Nvidia's earnings report, two catalysts expected to influence sentiment heading into the Jackson Hole symposium.
Technical indicators suggest the current move is driven by leverage unwinding rather than institutional selling. XRP-linked ETFs have recorded nine consecutive days of net inflows, indicating that traditional funds continue to track the asset's price without exiting positions. On the daily chart, XRP opened at $1.4344 and tagged a high of $1.4513 before settling near $1.3790, representing a 3.86% drop on the current trading candle.
The price action has returned XRP to the $1.40 zone, a level that flipped from resistance to support during last week's breakout. This area is also where the token reclaimed its 200-day exponential moving average, a milestone chart watchers identified as an early sign of a potential trend reversal. Whether this level holds will determine if the current decline remains a healthy cooldown or develops into a deeper correction.
Mixed signals are emerging from other technical measures. The Relative Strength Index sits at 66.7, which remains bullish but is approaching the 70 threshold where traders typically begin booking profits. The Average Directional Index is running at 44.1, well above the 25 threshold required to confirm a strong trend, with the positive directional line still above the negative line, maintaining a bullish tilt.
However, moving averages present a conflicting picture. The 50-day exponential moving average remains below the 200-day average, a structural holdover from the broader downtrend that has defined XRP's chart for much of the year. This arrangement persists despite the recent rally being the sharpest in months.
For XRP, the immediate focus is on maintaining the $1.40 support level on a daily close. Holding this zone would keep the seven-day rally intact as a normal adjustment. Losing it could expose the token to further downside pressure toward the lower boundary of the support zone established since August's breakout. Bitcoin's ability to hold the $77,000 to $78,000 range will also influence altcoin performance in the near term.