XRP Price Plunges to $1.42 Amid Derivatives Selling

XRP price has slipped to $1.42 after a sharp derivatives-driven pullback erased much of its recent rally.

The token's spot ETF demand, however, continues to strengthen with net inflows reaching $28.14 million on August 26, marking the strongest single-day haul in more than seven months.

This indicates steady institutional appetite for XRP despite the choppy spot price action.

Derivatives selling triggered the pullback, which followed a near 70% rally over two weeks that pushed XRP toward $1.70.

Over $20 million in long positions were liquidated during this time, with net buyer volume turning negative and open interest climbing above $3.4 billion, pointing to a crowded market.