XRP Price Tumbles Below $1 Amid Death Cross

XRP's price has been stuck in a tight range of $0.9897 to $1.0044 over the past 24 hours, with the token currently trading at $0.9956.

This price action comes after a bridge exploit drained roughly $200,000 from the XRP Ledger on August 11 and again on August 14, causing the token's price to briefly dip below $1.

However, buyers stepped in both times before the daily close, preventing a longer-term decline. The technical damage lingers, though, with XRP's 50-day EMA now sitting below its 200-day EMA, indicating a death cross that confirms sellers have controlled the short to medium-term trend for weeks.

Despite this, institutional flows suggest some smart money is still holding onto XRP, with recent ETF activity from major players like Jane Street showing ongoing interest in the token.