XRP Plunges to $2 Amidst Crypto Market Downturn, Trading Volume Skyrockets

The cryptocurrency XRP has experienced a dramatic drop, falling to $2.00 after shedding 34% in the past week, aligning with wider market volatility across cryptocurrencies. The sudden decline is attributed to cascading liquidations exceeding $5 billion across major exchanges, including Bitcoin’s dip below $107,000 and Ethereum breaking under $4,000. This selloff resulted in a notable market cap drop for XRP, falling 28.2% to $120.3 billion, accompanied by a surge of trading volume by nearly 92% reaching $10.82 billion. This indicates heightened volatility and active reshuffling of positions by traders.