XRP Plummets Over 10% in Steepest Daily Decline Since February

XRP saw a significant sell-off in recent trading, plummeting 10.58% to a price of $1.3216, according to data from the Investing.com Index. The move marked the cryptocurrency's largest single-day percentage loss since February 5.

Details of the Price Drop

The sharp decline reduced XRP's total market capitalization to $86.91 billion, accounting for 3.34% of the entire cryptocurrency market's value. At its peak, XRP's market cap had reached $210.60 billion, according to the source data.

Over the past 24 hours, XRP traded in a range between $1.3216 and $1.4563. The token remains down 63.85% from its all-time high of $3.66.

Trading Activity and Weekly Performance

Trading volume for XRP over the last 24 hours was reported at $5.14 billion, representing 5.71% of the total volume across all cryptocurrencies. This heightened activity accompanied the sharp price movement.

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Looking at the past week, XRP has fallen by 3.81%. During that seven-day period, its price fluctuated between $1.3199 and $1.4895, indicating recent sustained selling pressure.

Broader Crypto Market Sell-Off

XRP's decline was part of a broader downturn affecting major digital assets. Market data showed that Bitcoin fell 4.13% to trade at $75,808.9, while Ethereum dropped 5.91% to $2,386.40.

In the context of the wider market, Bitcoin's market cap stood at approximately $1.53 trillion, commanding 58.96% of the market. Ethereum's market cap was reported at $293.87 billion, for an 11.29% market share.