XRP Leads Crypto Pullback as Leverage Unwind Tests Rally

In brief

• XRP fell 6.23% over 24 hours, the steepest drop among the top 10 cryptocurrencies by market cap
• XRP still leads the pack with a 35.55% rally over the past week.
• The daily chart shows XRP retesting the $1.40 zone that flipped from resistance to support during last week's breakout, with the daily chart flashing short setups.

Crypto markets are digesting a big week. Bitcoin cleared $80,000 for the first time in months on Tuesday before cooling toward the $78,000 zone on Wednesday, and traders are bracing for tonight's core PCE inflation data and Nvidia's earnings report, the two catalysts likely to set the tone heading into Jackson Hole.

Risk appetite has broadly improved this month, but not every token is riding the wave evenly. XRP, in particular, is giving back a chunk of its own rally faster than the rest of the market.

XRP is down 6.23% over the past 24 hours to around $1.38, the worst showing among the ten largest cryptocurrencies by market cap, according to CoinMarketCap data.

That's a sharp reversal for a token that was, until this week, the market's standout: XRP is still up 35.55% over the past seven days, trailing only Hyperliquid's 38.65% weekly gain among the top 10 and comfortably outpacing Bitcoin, Ethereum, and every other major coin.