XRP Price Crash: Will $1.66 be the Top of This Rally?

XRP's price surge to $1.66 was short-lived, as it quickly fell back to $1.44 within minutes. The coin's 70% rally in just four days was driven by a combination of factors, including President Trump's call for Congress to pass the CLARITY Act and Bitcoin breaking above $77,000.

The White House meeting with Ripple CEO Brad Garlinghouse and other crypto executives also contributed to the surge. However, the rally was not sustainable, as exchanges began closing leveraged long positions due to a lack of collateral.

XRP's price stabilized after the flash crash, but it still trades below its previous high of $1.66. The coin's ability to recover above this level depends on several catalysts, including the Senate vote on the CLARITY Act and Bitcoin momentum.