The cryptocurrency market saw a downturn this Monday, with XRP dropping below $3 to reach an intraday low of $2.96. This slide marks the token’s lowest point since August 6th and comes amidst a period of dwindling investor confidence. 24-hour trading volume reveals that XRP has been among the worst performing tokens in the top ten, losing over 4% according to CoinGecko, only trailing behind Solana which fell by more than 5%. This decline aligns with a broader bearish trend impacting the entire cryptocurrency market, as Bitcoin also witnessed significant selling pressure. $464.7 million worth of crypto assets were liquidated in the past 24 hours, with long positions representing the largest share ($380 million) of this liquidation. Notably, analysts suggest that a key level at around $2.81 is crucial for XRP to maintain its momentum, as approximately 1.7 billion tokens have accumulated there. As per UToday, XRP currently trades for $2.98 on the Bitstamp exchange.