XRP Dives Nearly 7% as Market Pullback Gains Momentum

XRP led a broader crypto market pullback on August 26, dropping around 6.6% in 24 hours to trade near $1.37.

This decline follows one of XRP's strongest weekly rallies in recent memory, with the token surging from a cycle low of $0.9877 on August 17 to a three-month high of $1.69 by August 22, a nearly 70% gain that outpaced Bitcoin's 23.6% and Ethereum's 28.1% over the same stretch.

Crypto analyst ChartNerdTA described the surge as a genuine breakout, driven by a liquidity trap for short sellers and positive funding rates.

The subsequent unwind has produced an 18% decline from the $1.70 peak, pulling the price into the $1.40-$1.38 range.