XRP Plunges 10% in Crypto Market Rout

XRP Falls 10% in Selloff, Adding to Crypto Market's Woes

XRP, the native cryptocurrency of the Ripple network, has fallen by approximately 10% in a recent selloff, contributing to the broader crypto market's decline. The drop in XRP's price comes amidst a wave of liquidations, with over $770 million in bullish positions being closed in the past 24 hours.

The selloff in XRP has pushed its market capitalization down to around $45.6 billion, representing approximately 1.35% of the total cryptocurrency market capitalization. At its peak, XRP's market capitalization reached $147.5 billion.

XRP has been trading within a range of $0.43 to $0.48 in the previous 24 hours. Over the past seven days, XRP has experienced a decline in value, losing around 12.5%. The volume of XRP traded in the last 24 hours was approximately $2.5 billion, representing about 1.05% of the total volume of all cryptocurrencies. XRP has been trading within a range of $0.43 to $0.51 in the past 7 days.

At its current price, XRP is still down around 75% from its all-time high of $3.84, which was reached on January 4, 2018.

The broader crypto market has also experienced significant losses, with Bitcoin and Ethereum both falling by more than 5%. Other major cryptocurrencies, such as Solana, Dogecoin, and Cardano, have also seen substantial declines, with losses ranging from 9% to 10%.

The crypto market's high volatility has led to a surge in liquidations, with over $770 million in bullish positions being closed in the past 24 hours. This is nearing the monthly high levels seen on January 18. Major liquidation events can provide valuable insights into market sentiment and positioning.

The largest single liquidation order occurred on HTX, a tether-margined BTC trade valued at $98.4 million. Liquidations happen when a trader has insufficient funds to keep a leveraged trade open. The crypto market's