XRP Takes the Hit as Leverage Unwind Hits Crypto Market

XRP has led the crypto market in pulling back after a rally, as an unwind of leverage tests the strength of the current trend. The cryptocurrency's price plummeted by over 8% in just two hours, outpacing other major cryptocurrencies such as BTC and ETH.

This sudden drop was likely caused by investors unwinding their leveraged positions, which had driven up XRP's price in recent days. As a result, the market is now facing a test of its current rally's sustainability.

XRP's price has been on an upward trend since the beginning of the year, with significant gains in January and February. However, this pullback may indicate that the market is due for a correction.