XRP plunges 6.23% as rally retreats toward key $1.40 support

XRP fell 6.23% over 24 hours to about $1.38, the steepest decline among the 10 largest cryptocurrencies by market capitalization, according to CoinMarketCap data. Despite the setback, XRP remains up 35.55% over seven days, behind only Hyperliquid's 38.65% gain among the top 10 and ahead of Bitcoin, Ethereum and the other major tokens. The retreat followed a surge from around $1.00 on August 18 to an intraday high near $1.69 four days later, briefly approaching $1.70 as Bitcoin climbed above $80,000 before weakening toward $78,000. XRP is now retesting the $1.40 area, which changed from resistance to support during last week's breakout and marked its first recovery of the 200-day exponential moving average. RSI (Relative Strength Index, a momentum gauge) is 66.7, while ADX (Average Directional Index, a trend-strength measure) is 44.1; both readings indicate a strong but potentially crowded move. XRP-linked ETFs have recorded nine consecutive days of net inflows, pointing to leverage as a possible driver of the decline rather than institutional exits. A daily close below $1.40 could expose lower support, while holding the level would leave the weekly rally looking like a normal cooldown. Bitcoin's ability to remain in the $77,000-$78,000 range, along with core PCE inflation data and Nvidia's earnings report, are the next scheduled catalysts for broader crypto markets ahead of Jackson Hole.

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