On Wednesday, XRP’s price plunged below the crucial $2 level for the first time in nearly a month as a market sell-off gripped the crypto space. The token dropped as low as $1.98 on the Binance exchange before seeing a modest rebound to trade at $2.07 at press time. Over the past 24 hours, over $20 million worth of XRP tokens have been liquidated, according to CoinGlass data, with long positions accounting for roughly 63% of this drop. The sell-off isn’t limited to XRP; investor anxiety surrounding global trade tensions is contributing to the broader bearish trend, as evidenced by the E-mini Nasdaq-100 futures falling over 3%. Despite its resilience in recent times, notably suggested by trader John Bollinger’s prediction of a market leadership shift for XRP, the cryptocurrency continues to struggle against the wider downturn. Data from crypto analytics firm Glassnode suggests that XRP has experienced one of the sharpest declines in its share of total supply in profit, with roughly 5% of the cryptocurrency’s holdings moving into the red zone compared to Dogecoin (DOGE) which currently stands at nearly 10%. The fourth quarter of 2024 saw a significant surge for XRP, but this momentum faded early in the first quarter of 2025, coinciding with broader market struggles and waning retail interest.