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.
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Key Facts
- Fact 1: 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.
- Fact 2: 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.
- Fact 3: 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.
- Fact 4: Click to make your prediction.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.
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.
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Original source: Decrypt
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