XRP has dropped 11% over the past 24 hours, making it one of the biggest losers in the current market. The fall occurred amidst a broader decline in market capitalization.
XRP and Overall Crypto Market Liquidation
XRP has plunged to $3.08, marking a sharp decline of 11.2% in the past day. This fall is accompanied by a broader selloff in the crypto market, with total capitalization dropping by 1.4% to $3.88 trillion. Aggressive liquidation of derivatives is one of the key reasons for the decline.
Trump's Tariff Threats and Their Impact
The rising global economic uncertainty has also amplified XRP's losses. U.S. President Donald Trump announced plans to increase tariffs on countries that do not open their markets to American goods. This created new panic in the market, prompting investors to sell across volatile assets including XRP. Although positive news about potential trade agreements exists, XRP failed to gain traction.
Conclusion on Current Market Situation
With widespread liquidations, reduced Bitcoin dominance, and intensifying trade concerns, XRP continues to struggle. Investor caution remains high, affecting its performance.
The combined effect of market liquidations, diminished Bitcoin dominance, and geopolitical pressures continues to negatively impact XRP's price.
