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XRP is trading at $1.01, down 0.6% on the day, stuck in a $1.00–$1.02 range the market has held for days. The Coreum–XRP bridge was drained of roughly 200,000 XRP after an attacker used a fake deposit to trigger withdrawals, forcing an emergency shutdown and drawing FBI involvement.
Why it matters
The bridge hit lands on a market already stretched. More than $1.5 billion in leveraged longs have piled into XRP since the start of August, on a token whose spot volume has thinned to $885 million a day from $905 million. Crowded long positioning plus a fresh exploit headline plus a chart sitting below every major moving average is the kind of stack that resolves violently. The CLARITY Act window in September and October is the only scheduled catalyst with the scale to break it.
Market impact
XRP sits below its 7-, 20-, 50-, and 200-day SMAs at $1.03, $1.06, $1.08, and $1.31, a textbook bearish alignment that has held since the November 2025 defense of $1.00. The Stochastic is drifting toward oversold and price is scraping the lower Bollinger Band, setting up a short squeeze toward $1.05 if positioning unwinds the other way. A clean break below $1.00 opens room into the low-$0.90s and invalidates the seven-month accumulation thesis. A favorable CLARITY Act outcome is what bulls need to push toward $1.50–$1.55. Until then, the range holds.
Frequently asked questions
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What happened to the Coreum-XRP bridge?
Attackers drained roughly 200,000 XRP from the bridge using a fake deposit to trigger withdrawals, prompting an emergency shutdown and FBI involvement.
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Why is XRP stuck at $1?
XRP sits below every major moving average ($1.03, $1.06, $1.08, $1.31) with spot volume thinning to $885M daily, leaving buyers without conviction to push through overhead resistance.
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How much leverage is in the XRP market right now?
Over $1.5 billion in leveraged longs have been added since the start of August, building a crowded positioning that could resolve violently either direction.
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What is the CLARITY Act and when could it move XRP?
The CLARITY Act is a pending US market-structure bill with a potential September-October legislative window. A favorable outcome is the main bullish catalyst cited for a push toward $1.50-$1.55.
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What would a break below $1 mean for XRP?
A clean break below $1.00 support opens room toward the low-$0.90s and would invalidate the accumulation thesis that has held since November 2025.
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