The crypto market experienced a dramatic sell-off over the weekend, impacting major cryptocurrencies like XRP. CoinGlass data reveals 264,608 traders liquidated for $687 million in derivatives markets within the past 24 hours, with bullish longs accounting for $610 million of that amount. This decline coincided with Bitcoin’s price drop and a general market downturn as traders grappled with macroeconomic concerns. 💰 XRP, along with other altcoins, suffered significant losses, hitting its lowest point at $2.08 on Saturday morning. However, the XRP trading volume reached a remarkable $3.45 billion over the past 24 hours, marking a 3% increase in recent market activity according to CoinMarketCap. While trailing behind Bitcoin and Ethereum on Coinbase’s exchange volume, XRP still holds its own amidst this volatile landscape. Despite this temporary dip, XRP’s price has been showing downward pressure for three consecutive days since May 27th. 📊 As of now, XRP is down 1.78% in the last 24 hours to $2.14, recovering slightly after hitting lows earlier. The unexpected drop came after reports of growing demand for XRP as a corporate treasury asset. Notably, VivoPower, a renewable energy provider, has raised $121 million for an XRP-focused treasury reserve, marking a first of its kind for publicly traded firms. Furthermore, Webus International in China has secured funding to launch an XRP strategic reserve. 👀 Analysts are closely watching the daily SMA 50 at $2.25, which could signal whether XRP consolidates further or dips even lower in the coming days.