XRP Plunges 10% in Major Selloff
1min read XRP, the native cryptocurrency of the Ripple network, experienced a significant selloff on Monday, with its price dropping by approximately 10%. This decline marked the largest one-day percentage loss for XRP since March 3. The selloff pushed XRP's market capitalization down to $149.2672 billion, representing 5.08% of the total cryptocurrency market capitalization. At its peak, XRP's market capitalization reached $190.3902 billion.
In the previous 24 hours, XRP traded within a range of $2.5090 to $2.9436. Over the past seven days, XRP has seen a rise in value, gaining 4.22%. The volume of XRP traded in the 24 hours leading up to the time of writing was $13.9628 billion, accounting for 8.45% of the total volume of all cryptocurrencies. During this period, XRP traded within a range of $1.9554 to $2.9676. Despite the recent selloff, XRP remains down 26.11% from its all-time high of $3.40, which was set on January 16.
The selloff in XRP comes amidst a broader market downturn in cryptocurrencies. Bitcoin, the world's largest cryptocurrency by market capitalization, was last trading at $87,745.1, down 4.93% on the day. Ethereum, the second-largest cryptocurrency, was trading at $2,216.66, a loss of 10.43%. Bitcoin's market capitalization was last at $1,769.3697 billion, representing 60.24% of the total cryptocurrency market capitalization, while Ethereum's market capitalization totaled $271.4608 billion, accounting for 9.24% of the total cryptocurrency market value.
