XRP News Today: Crypto Prices Plunge 10% Amid Geopolitical Tensions

Crypto prices experienced a significant downturn on Sunday morning, with Bitcoin falling below the $100,000 mark. This decline was part of a broader market correction that saw Ethereum plummet by 10% and other major cryptocurrencies, including Solana, XRP, and Dogecoin, hitting multi-month lows.

The market turmoil was triggered by geopolitical tensions in the Middle East. The United States entered the conflict between Israel and Iran, with President Donald Trump announcing late Saturday that U.S. forces had bombed three Iranian nuclear facilities in an operation named "Operation Midnight Hammer." This move escalated tensions in the region, following recent exchanges of attacks between Israel and Iran. The geopolitical instability has had a ripple effect on financial markets, including the cryptocurrency sector.

Bitcoin's price dropped to $99,843, marking its lowest point since early May. Ethereum also saw a substantial decline, falling to $2,171, which is its lowest price since early May as well. These drops erased some of the gains that both cryptocurrencies had made in recent months.

Other major altcoins, such as XRP, Solana, and Dogecoin, also experienced significant declines. XRP is currently priced at $1.95, Solana at $127, and Dogecoin at $0.147. These prices represent the lowest levels for these cryptocurrencies in two months, highlighting the extent of the market correction.

Liquidations across the crypto market have accelerated, with $949 million worth of positions being liquidated in the last 24 hours. Ethereum led the way with $369 million in liquidations, followed by Bitcoin with $242 million. The vast majority of these liquidations were long positions, indicating that many traders had bet on the prices of these assets rising.

The bearish sentiment among traders is evident, with users of the prediction market Myriad increasingly pessimistic about Bitcoin's price prospects. As of the latest data, there is a nearly 65% chance that Bitcoin will fall below $95,000, compared to just a few days ago when users were predicting a new all-time high of $115,000.