XRP Plunges 6.6% in Broad Crypto Market Correction

XRP has led the cryptocurrency market in a pullback on August 26, dropping approximately 6.6% over 24 hours to trade near $1.37.

This decline follows XRP's strongest weekly rally in recent memory, and traders are now watching whether the pain has only just begun.

XRP rocketed 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.

However, this rapid expansion has led to deeply overbought momentum indicators, with the daily RSI reaching 88, a level last seen during July 2025's all-time high near $3.65.

The pullback is being characterized as a healthy correction by ChartNerdTA, resetting overbought conditions rather than a trend reversal.

However, analyst EGRAG CRYPTO offered a more cautious counterpoint, referencing a fractal pattern that suggests the current weakness may be followed by a deeper breakdown.