XRP loses $1 for the first time since Trump’s 2024 election as bearish bets surge and 200,000 XRP stolen

XRP slipped below $1 as leverage rebuilt and selling pressure deepened across the market.Data from CryptoSlate showed that the digital asset fell as low as $0.99 during the session, its weakest level since November 2024, when Donald Trump won the US presidential election.The move unwinds one of the most important thresholds from XRP’s post-election rally. The token first crossed $1 on Nov. 16, 2024, less than two weeks after the election, before accelerating to a peak of $3.42 in July 2025.Since then, the broader crypto market downturn has erased much of that advance, while XRP’s exchange activity increasingly points to sellers controlling the near-term trade.Leverage returns as XRP traders lean bearishThe shift in XRP positioning is most visible in the derivatives market, where traders are rebuilding exposure even as order flow continues to favor sellers.CryptoQuant data showed Binance’s seven-day change in XRP open interest swung from about -13% on Aug. 1 to 7.4% by Aug. 11, a reversal of more than 20 percentage points. The move suggests traders have begun adding leveraged positions again after cutting exposure at the start of the month.CryptoQuant analyst JA Maartunn separately ...