XRP Tumbles 10% as Crypto Market Faces Widespread Losses

XRP fell 10.28% on Monday, marking its biggest one-day loss since March 3. Trading at $2.5090 by 13:28 (18:28 GMT) on the Investing.com Index, the price drop pushed XRP’s market cap down to $149.27 billion, accounting for 5.08% of the total cryptocurrency market. The token previously peaked at a $190.39 billion market cap.

Over the last 24 hours, XRP fluctuated between $2.5090 and $2.9436. Despite the recent decline, XRP remains up 4.22% over the past week, having traded within a range of $1.9554 to $2.9676. Trading volume reached $13.96 billion in the past day, making up 8.45% of total crypto market volume. XRP is still down 26.11% from its all-time high of $3.40, set on January 16.

The broader crypto market also saw significant losses. Bitcoin dropped 4.93%, trading at $87,745.1, with its market cap at $1.77 trillion, representing 60.24% of the total market. Ethereum fell 10.43% to $2,216.66, with a market cap of $271.46 billion, accounting for 9.24% of the market.

The cryptocurrency market remains volatile as investors react to shifting sentiment and external market factors.