XRP Price Tumbles to $1.42 as Derivatives-Fueled Pullback Erases Rally
XRP's price has slipped to $1.42 after a sharp derivatives-driven pullback erased much of its recent rally. The token was trading near this level despite steady institutional appetite, as evidenced by spot ETF demand that hit a seven-month high on August 26.
The strong inflow of $28.14 million in net inflows for XRP spot ETFs suggests a continued interest from institutions, even as the spot price action turned choppy.
However, the derivatives market played a significant role in the pullback, with over $20 million in long positions being liquidated after a near 70% rally over two weeks that pushed XRP toward $1.70.
The Level That Matters Now: $1.40 - holding above it keeps the broader uptrend intact, particularly with fund inflows still running strong.