XRP faces mounting uncertainty amid broader crypto market turbulence, as investor sentiment turns cautious ahead of this week’s Jackson Hole Symposium. Federal Reserve Chair Jerome Powell is expected to deliver remarks that could significantly sway digital asset markets.

Leading cryptocurrencies, including Bitcoin and Ethereum, have experienced sharp pullbacks. Bitcoin slipped below its 50-day moving average, falling under $115,000. Ethereum tumbled to $4,220 amid heavy liquidations, with analysts warning of a potential cascade if prices fall further toward the $4,170 trigger zone.

Crypto Liquidations Highlight Market Fragility

The market saw over $400 million in long liquidations as both BTC and ETH declined overnight. This follows a broader 5% correction last week, leading to DeFi liquidations exceeding $1 billion. Funding rates have turned negative, indicating risk-averse positioning across the board.

Ethereum’s latest slump coincides with a record high validator exit queue. Data shows more than 855,000 ETH—valued at over $3.5 billion—are now en route to withdraw, a sign of growing unease among stakers. Despite the downturn, BlackRock’s Ethereum ETF (ETHA) posted all-time record trading volumes, signaling heightened institutional engagement. Inflows hit $2.32 billion last week.

Crypto exchange Coinstash’s Mena Theodorou commented, “With nearly $40 billion in weekly trading volumes across Bitcoin and Ethereum ETFs, the underlying infrastructure around crypto is strengthening rapidly.”

How XRP and Other Altcoins Are Performing

Altcoins remain under pressure, with the Bitcoin-to-altcoin liquidation ratio reaching its lowest point since early 2024, according to CryptoQuant data. This suggests outsized speculative behavior in the altcoin space, possibly indicating a late-stage rally cycle.

XRP’s short-term performance hinges on broader market cues, particularly macroeconomic signals from the Jackson Hole meeting. While XRP-specific price action wasn’t detailed, its inclusion in Coinbase’s nano futures product launch on August 18 could offer renewed liquidity and volatility opportunities.

Upcoming Events Influencing XRP and Digital Assets

The crypto community is keeping a close eye on several key events:

• Coinbase Derivatives launching nano XRP perpetual futures on August 18
• Qubic’s token halving scheduled for August 20
• Central bank speeches at the Wyoming Blockchain Symposium from key Fed officials

In terms of governance, entities like Uniswap DAO and SoSoValue DAO are actively voting on new fund allocations. Unlock events this week include Fasttoken (FTN), LayerZero (ZRO), and Kaito (KAITO), potentially introducing fresh volatility.

Technical and Derivatives Analysis Reveals Bearish Bias

Open interest in crypto futures markets continues to rise despite price declines. For Bitcoin, open interest has surged to 720,000 BTC, and for Ethereum, it has hit 14.34 million ETH—both marking the highest since early August.

However, rising open interest paired with fading funding rates indicates traders are ramping up short bets. On centralized venues like Deribit, there’s increasing demand for downside protection through put options.

XRP traders might take cues from Ethereum’s options data where structured strategies—like short strangles—suggest expectations of minimal price movement in the near term. For Bitcoin, a notable purchase of a $110,000 put option signals anticipation of more downside.

ETF Data and Broader Market Links

Spot Bitcoin ETFs saw net outflows of $14.13 million, while Ethereum ETFs lost $59.34 million in daily flows. Total ETH held across these funds stands at about 6.49 million, while Bitcoin ETF holdings are nearing 1.29 million BTC.

Traditional markets mirror some caution. European stocks slipped, and U.S. futures remained tepid ahead of political developments involving President Trump and Ukraine. Central banks in El Salvador, Canada, and Uruguay are all set to announce economic data that could affect crypto indirectly via macro trends.

A chart showing a decline in the bitcoin-to-altcoin liquidation ratio, indicating increased risk-taking in altcoins.

Market Recap: XRP and Crypto Faces Macro Headwinds

As of the latest close, Bitcoin trades at $115,205, down nearly 3% over 24 hours. Ethereum is faring worse at $4,306, down 5.77%. XRP’s position remains tied to these broader trends but gains optimism from inclusion in new futures products and growing institutional adoption trends like ETFs.

Heading into Jackson Hole, traders appear risk-averse. Bearish derivatives positioning, growing altcoin liquidations, and a cautious macro backdrop all contribute to a landscape where XRP price movement may hinge most on external events rather than internal milestones.

Related: XRP Price: $12M Max Pain for Bears

Stay tuned for real-time updates from the Wyoming Blockchain Symposium and watch for incoming statements from Fed officials, which may dramatically shape the crypto narrative going into late August.