XRP News Today: Crypto Market Drops 1.03% as Trading Volumes Fall 13%

The crypto market experienced a significant pullback today, with the total market capitalization slipping by 1.03% over the past 24 hours to $3.28 trillion. This decline was accompanied by a sharp drop in trading volumes, which fell nearly 13% to $97.51 billion, indicating weaker market momentum. Bitcoin continues to dominate the market with a 65% share, while Ethereum trails behind at 9%.

The Fear & Greed Index stands neutral at 49, reflecting market indecision. A total of 89,122 traders were liquidated in the past 24 hours, with total liquidations amounting to $202.17 million. The largest liquidation was of ETHUSDT at $2.82 million on Binance.

Bitcoin is currently trading at $106,981.09, down 0.97% in the past 24 hours, with its market cap sitting at $2.12 trillion. Daily volume plunged by 19.27% to $41.39 billion, as prices swung between a low of $106,519.66 and a high of $108,190.55. Options data suggests the maximum pain price is at $102,000 with a put-to-call ratio of 0.75, indicating sustained bullish sentiment among traders. BTC saw minor losses as investors turned cautious ahead of upcoming U.S. inflation data and unclear Fed rate path. Despite the recent gains fueled by geopolitical easing, particularly as the U.S. influenced the Israel-Iran ceasefire, today’s mild correction reflects profit-taking.

Ethereum price has declined by 1.91% in 24 hours to trade at $2,444.10, pushing its market cap down to $295.03 billion. Its intraday trading volume stands at $16.85 billion, a 16.83% drop. ETH’s intraday range was between $2,386.32 and $2,500.11. Despite the dip, Ethereum’s options market reflects optimism, with a maximum pain price of $2,200 and a put-to-call ratio of 0.52. Traders are betting on a rebound, though near-term caution persists.

XRP was among the harder hit today, falling 4.73% to $2.08, dragging its market cap to $123.22 billion. However, trading volume surged 23.78% to $3.26 billion, indicating rising speculative interest. Prices fluctuated between $2.08 and $2.20. XRP futures recorded $542M in volume during their first month, with 45% of activity coming from outside North America. Open interest as of June 25 stands at $90M, underscoring growing global demand despite the ongoing legal uncertainty with the SEC.

Pi Coin is gaining traction ahead of its much-anticipated Pi2Day event tomorrow, where major project announcements are expected. Solana, a blue-chip favorite, remains on watchlists as it continues to show strong ecosystem growth. Aptos posted a 5% intraday gain, fueled by news of a potential ETF listing, adding bullish momentum.

The dip in the crypto market is largely due to risk-off sentiment ahead of key U.S. inflation data and Fed rate uncertainty, alongside declining trading volumes and over $200M in liquidations. The majority of altcoins today are facing the heat of the broader market’s downturn. However, there are exceptions like SEI, FARTCOIN, and APT. While the market is down, it is the right time to buy potential altcoins in a dip. The crypto market will recover as investor sentiment turns optimistic, which could happen as early as by the end of this week.