Overview
- Coreum's TX bridge was exploited on August 9 when a relayer logic bug moved about 200,000 XRP from the bridge wallet, and the XRP Ledger itself was not compromised.
- XRP briefly dropped below $1 before recovering to about $1.01–$1.03, with the $0.99 print reported on August 11 marking the first time under $1 since 2024.
- U.S. July CPI printed 3.4% year‑over‑year and reduced the odds of a September Fed rate hike to roughly 38% according to CME FedWatch, easing one macro pressure on crypto markets.
- On‑chain metrics show rising activity and large‑holder accumulation while futures open interest sits above its 30‑day average at about 435 million XRP, a setup that increases the risk of forced liquidations if price weakens.
- Key near‑term catalysts to watch are the SEC 'Regulation Crypto' vote on August 14, changes in spot XRP ETF flows, and any material shift in exchange liquidity that could turn modest moves into larger sell‑offs or a sustained bounce.