XRP Experiences Significant One-Day Percentage Loss

XRP's Recent Performance

XRP experienced a significant decline, trading at $0.5485, marking a 10.12% drop in a single day. This represents the largest one-day percentage loss since mid-August 2023. This decrease has impacted XRP's market capitalization, which fell to $31.5388 billion, accounting for 1.26% of the entire cryptocurrency market cap. Historically, XRP reached a market cap high of $83.4407 billion.

Trading Range and Weekly Performance

In the past 24 hours, XRP fluctuated between $0.5422 and $0.6156. Over the past week, it saw a value decrease of 2.29%. The 24-hour trading volume for XRP reached $1.6027 billion, comprising 1.78% of the total cryptocurrency trading volume. The weekly trading range for XRP was between $0.5422 and $0.6418.

XRP's Historical Context

Currently, XRP's price is 83.33% lower than its all-time high of $3.29, achieved on January 4, 2018. This long-term decline highlights the volatility and challenges within the cryptocurrency market.

Broader Cryptocurrency Market Trends

In the broader cryptocurrency landscape, Bitcoin traded at $66,619.3, witnessing a 5.10% decrease. Ethereum also faced a downturn, trading at $3,240.19, marking a 7.56% loss. Bitcoin's market cap stands at $1,338.2254 billion, representing 53.53% of the total market cap, while Ethereum's market cap is $399.5989 billion, comprising 15.99% of the overall cryptocurrency market value.

This recent performance showcases the dynamic and often volatile nature of the cryptocurrency market, affecting major players like XRP, Bitcoin, and Ethereum significantly.