XRP Leads Crypto Pullback as Leverage Unwind Tests Rally
Crypto markets are volatile ahead of core PCE inflation data, Nvidia earnings, and Jackson Hole. Bitcoin briefly topped $80,000 before easing toward $78,000, and that pullback has weighed on altcoins. XRP is the weakest of the top 10 over the last 24 hours, falling about 6.2% to around $1.38, even though it is still up roughly 35.6% over the past week. The decline follows a very fast rally from about $1.00 on August 18 to an intraday high near $1.69. Despite the pullback, XRP-linked ETFs have recorded nine straight days of net inflows, suggesting traders are taking profits rather than institutions exiting. Technically, XRP is testing the $1.40 area, which recently flipped from resistance to support and also marks a reclaim of its 200-day EMA. RSI is still bullish at 66.7, and ADX at 44.1 shows a strong trend, but the 50-day EMA remains below the 200-day EMA, reflecting a broader downtrend. Holding $1.40 would keep the rally intact; losing it could invite further selling.
