XRP Price Holds $1 as Bridge Exploit Drains Nearly 200,000 XRP
Key Insights
- XRP price held above $1 despite a bridge verification exploit.
- Binance futures positioning remained elevated despite weak spot performance.
- XRP Ledger active addresses rose sharply during August.
XRP traded near $1.06 on Wednesday after an exploit targeting a third-party XRP Ledger bridge reportedly drained almost 200,000 XRP from its reserves. The incident did not compromise the XRP Ledger itself, while derivatives positioning and network activity remained elevated.
The split matters because the exploit targeted bridge verification rather than the XRP Ledger. Market data also showed traders maintaining leveraged exposure despite weak XRP crypto price action.
XRP Price Holds Near $1.06 After Bridge Exploit
CoinMarketCap data placed XRP near $1.07 during Wednesday trading. Its market capitalization stood near $66.9 billion, while 24-hour trading volume reached about $1.33 billion.
The price remained close to the $1 psychological area that traders monitored throughout August. Crypto.com market analysis identified $1.00 to $1.01 as immediate support. The platform placed near-term resistance between $1.06 and $1.09.
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