$XRP XRP has underperformed the broader crypto market over the past 24 hours, dropping 3.57% compared to the overall market decline of 2.21%. The key drivers behind this move include:

1. Broad Market Correction – The U.S. Producer Price Index (PPI) came in hotter than expected, triggering $941M in crypto liquidations.

2. Technical Weakness – XRP failed to hold the $3.20 Fibonacci support, while the MACD indicator flashed a bearish crossover.

3. Adoption Uncertainty – Recent remarks by Ripple’s CTO regarding XRP’s role within institutional trust networks have sparked debate over its real-world utility and adoption scope.

Macro Selling Pressure:

On August 15, the U.S. PPI for July posted a 0.9% monthly increase — the largest in three years. This macro print led to a $160B wipeout in overall crypto market capitalization. XRP, alongside Bitcoin (-2.4%) and Ethereum (-2.3%), saw declines averaging 3.3% during the session.