XRP experienced a significant drop in its trading value, closing at $0.5657 by 17:24 (21:24 GMT) on Thursday, according to the Investing.com Index. This marks a steep decline of 10.13% for the day, the largest single-day percentage loss since April 13.
The sharp decline in XRP’s value has impacted its market capitalization, reducing it to $31.6478 billion, which now represents 1.35% of the total cryptocurrency market cap. This is a significant drop from its peak market cap of $83.4407 billion.
Throughout the previous 24 hours, XRP’s trading range fluctuated between $0.5592 and $0.6360. Despite the recent downturn, XRP has seen an upward trend over the past week, gaining 26.57% in value. The trading volume for XRP in the last 24 hours reached $3.2192 billion, accounting for 4.56% of the total volume across all cryptocurrencies. Over the past seven days, XRP has traded within a range of $0.4446 to $0.6369.
However, even at its current price, XRP remains significantly below its all-time high of $3.29, which was recorded on January 4, 2018, marking a decline of 82.81%.
Other Cryptocurrency Movements
In other cryptocurrency news, Bitcoin was last recorded at $63,829.4 on the Investing.com Index, reflecting a slight daily decline of 1.06%. Meanwhile, Ethereum saw a minor increase, trading at $3,415.95, a gain of 0.02%.
Bitcoin’s market capitalization stood at $1.2596 trillion, representing 53.86% of the total cryptocurrency market cap. In contrast, Ethereum’s market cap totaled $410.6644 billion, accounting for 17.56% of the overall cryptocurrency market value.
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