XRP dropped to around $1.28, recording a 9% daily decline and its biggest one-day percentage loss since Feb. 5. The sell-off came after the token had traded in the $1.40-$1.45 range over the preceding 24 hours.
The latest decline pushed XRP’s market capitalization to roughly $80 billion, equal to about 3.34% of the total cryptocurrency market. XRP previously reached a record market capitalization of $210 billion. The token was still approximately 65% below its $3.65 all-time high, which was reached on July 18 last year.
Broader market weakness added to the pressure. Bitcoin was trading near $75,500 after falling 2% on the day, while Ethereum slipped 4% to below $2,400. The declines among the two largest cryptocurrencies indicate that XRP’s losses occurred amid a wider market downturn.
XRP Tests the $1.28-$1.30 Area
XRP was hovering around $1.28 after another move lower, while its latest 24-hour change was reported at a 0.7% decline. The token’s losses become more pronounced over longer periods, with XRP down 8.2% over the past week and 10.4% over the last month.
Market activity remains high. XRP recorded about $80.46 billion in 24-hour trading volume, according to the supplied data. Its market capitalization was also reported at approximately $5.88 billion, while the recent chart showed repeated attempts to recover followed by renewed selling.
The move toward $1.28 has placed XRP at a considerably lower price level than where it traded earlier in the session. Traders are now watching to see whether buying interest emerges around $1.28-$1.30 or whether sellers maintain control and drive the token lower.
The recent price structure shows XRP making a brief recovery after an earlier decline before another wave of selling erased those gains. The return toward $1.28 has made the current zone an important level as the market looks for evidence of a potential floor.
With XRP down 10.4% over the past month and trading volume remaining substantial, attention is centered on whether buyers can absorb the selling pressure and help the token stabilize.
