24.07.2025 01:24

XRP, the cryptocurrency linked to Ripple, experienced a significant downturn, marking its steepest daily decline since April with an approximately 8% drop. This sharp fall saw the token briefly plummet to an intraday low of $3.22 on Bitstamp, before a minor recovery.

At the time of writing, XRP is trading around $3.28, a considerable correction from its recent peak. This represents a 12% decrease from its all-time high of $3.66, reached on July 18th. The selloff has been intense, with data from CoinGlass revealing liquidations of over $21 million in long XRP positions within a single hour.

This XRP slump isn't an isolated incident; it's part of a broader altcoin correction. Dogecoin, for instance, suffered a nearly 9% drop, hitting an intraday low of $0.24, while Solana experienced a 7% decline. This widespread downturn suggests a cooling of the previously heightened risk appetite that fueled recent altcoin gains and points to considerable profit-taking following substantial rallies.

In contrast to the altcoin volatility, Bitcoin has demonstrated relative resilience. While experiencing a modest dip of less than 2%, currently trading near $118,000, its market dominance has climbed towards 62%. This increase in Bitcoin's market share is a direct consequence of the substantial losses seen across the altcoin market. The information was sourced from internet resources.