XRP Pullback Tests Rally as Leverage Unwinds

XRP led the crypto market pullback this week, falling 6.23% in 24 hours to $1.38, the steepest drop among top 10 cryptocurrencies by market cap.

This sharp reversal comes after a meteoric rally that saw XRP skyrocket from around $1.00 on August 18 to an intraday high near $1.69 just four days later, a move so aggressive it briefly touched the psychologically important $1.70 mark before Bitcoin's own pullback started dragging altcoins lower.

The one bright spot is that XRP-linked ETFs have logged nine straight days of net inflows, suggesting this is a leverage problem rather than institutions heading for the exits.