XRP Plunges Over 10% in Widespread Cryptocurrency Sell-Off

The price of XRP plunged 10.58% on Tuesday to trade at approximately $1.3216, marking the digital asset's largest single-day percentage loss since early February, according to data from the Investing.com Index.

Sharp Decline Hits Market Cap

The sharp downturn pushed XRP's market capitalization down to $86.91 billion, representing about 3.34% of the total cryptocurrency market value. At its peak, XRP's market cap reached $210.60 billion. The sell-off was accompanied by significant trading activity, with XRP's 24-hour volume recorded at $5.14 billion, or 5.71% of the total crypto market volume at the time of reporting.

Over the past seven days, the token has registered a loss of 3.81%. During that period, it has traded within a range of $1.3199 to $1.4895. Despite its market position, XRP remains 63.85% below its all-time high of $3.66.

Broader Market Downturn

Ad

XRP's decline was part of a broader negative trend across the cryptocurrency market. Other major digital assets also posted significant losses during the same trading session.

• Bitcoin (BTC), the largest cryptocurrency by market cap, fell 4.13% to $75,808.90.
• Ethereum (ETH), the second-largest, dropped 5.91% to $2,386.40.

Following the market moves, Bitcoin's market capitalization stood at $1.53 trillion, accounting for 58.96% of the market, while Ethereum's was $293.87 billion, or 11.29% of the total market.