XRP plunges 6.23% as leveraged liquidations erase part of four-day rally

XRP fell 6.23% over 24 hours to about $1.38, the steepest decline among the 10 largest cryptocurrencies by market capitalization, according to reported CoinMarketCap and ChainCatcher data. The token remains up 35.55% over seven days, trailing only Hyperliquid's 38.65% gain, after rising from around $1.00 on August 18 to an intraday high near $1.69 within four days. The pullback was mainly attributed to leveraged liquidations and profit-taking rather than institutional outflows, as XRP-related ETFs recorded nine consecutive days of net inflows. Bitcoin's retreat from above $80,000 toward $78,000 also pressured altcoins. XRP is testing the $1.40 area, which became support during the breakout and marked its first recovery of the 200-day exponential moving average. RSI at 66.7 and ADX at 44.1 indicate strong but potentially crowded momentum, while a daily close below $1.40 could expose lower support. Traders are also watching policy developments, core PCE inflation data, Nvidia's earnings and Dark Defender's August 23 projection of $1.88-$2 within two days.

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