The Coreum–XRP bridge was exploited for roughly 200,000 XRP through a fake deposit, forcing an emergency shutdown and bringing in the FBI. XRP is trading at $1.01, down 0.6% on the day, with the session range holding between $1 and $1.02. The incident lands as traders watch for a possible CLARITY Act window in September–October.
Bridge halted after fake deposit
The exploit drained about 200,000 XRP via a fake deposit. Operators triggered an emergency shutdown, and the FBI has been brought in. The bridge's status going forward isn't clear from the available information.
XRP's $1 defense
XRP sits at $1.01, below all major moving averages — the 7-day at $1.03, the 20-day at $1.06, the 50-day at $1.08, and the 200-day at $1.31. That's a bearish structure. Daily volume is $885 million, down from $905 million the day before, a sign of fading interest. But the Stochastic is showing a crossover in oversold territory, and price is near the lower Bollinger Band. That could set up a short squeeze toward $1.05, with longer-range forecasts pointing to $1.50–$1.55. On the downside, a break below $1.00 could open the low-$0.90s. XRP holders have been defending $1.00 since November 2025. A tweet from Crypto Rover claims over $1.5 billion in XRP longs have been added since the start of August, but that's unverified.
CLARITY Act window
Traders are eyeing September–October as a potential window for CLARITY Act regulatory clarity, which could shift sentiment. The base case is continued consolidation between $1.00 and $1.05 while the market waits. The bear case is a break below $1.00, which would invalidate the accumulation thesis.
Bitcoin Hyper presale tops $33M
Elsewhere, Bitcoin Hyper, a Bitcoin Layer 2 with SVM integration, has raised $33,026,974.13 in its presale. Tokens are priced at $0.0136846, with staking APY offered. The raise is a notable sum for a presale, though the project's timeline for mainnet launch isn't specified in the available facts.
