XRP Breaks Below $1 Threshold for First Time Since 2024 Election Amid Security Breach

Key Facts

1XRP price fell below the $1 threshold for the first time since the 2024 US election.

2The price drop coincided with reports of 200,000 XRP stolen via a security exploit on the Coreum bridge.

Amid mounting selling pressure in the digital asset market, XRP has broken below the critical $1 psychological support level for the first time since the 2024 US election. According to reports, the price touched lows of $0.99, driven by a surge in bearish bets and a shift in retail sentiment. This breakdown marks a significant technical shift for the instrument, which had maintained its position above this threshold for several months.

The price decline coincided with reports of a security exploit on the Coreum bridge, resulting in the theft of 200,000 XRP units. While the volume of stolen tokens is relatively small in the context of total supply, the breach has heightened concerns regarding the security of associated infrastructure. This event, combined with a rebuild in leverage, accelerated the downward move as the market reacted to the vulnerability.

Looking ahead, market participants are focused on whether XRP can reclaim the $1 level to stabilize sentiment, though current price data remains unavailable for this session. Investors are also monitoring broader macroeconomic catalysts, including the scheduled speech by Fed official Musalem on August 12, 2026, which may influence overall market liquidity and risk appetite for crypto assets.

Sources:

cryptoslate.com