On Sunday, XRP experienced a sharp drop of 10.71%, trading at $2.9197 by 18:28 (23:28 GMT) on the Investing.com Index. This marks the largest one-day percentage loss for the cryptocurrency since December 9, 2024.

Market Cap: XRP’s market capitalization fell to $171.12 billion, representing 4.89% of the total cryptocurrency market. At its peak, XRP’s market cap reached $190.39 billion.
Trading Range: The token fluctuated between $2.9197 and $3.2341 over the past 24 hours.

Despite the recent dip, XRP has surged 19.46% over the past week, trading within a broader range of $2.3363 to $3.3954 during this period. However, at its current price, XRP remains 14.01% below its all-time high of $3.40, achieved on January 16.
Broader Cryptocurrency Trends
The decline in XRP was mirrored by other major cryptocurrencies:

Bitcoin (BTC): Down 3.46%, trading at $100,919.9. Bitcoin continues to dominate the market, holding 57.23% of the total cryptocurrency market cap at $2.00 trillion.
Ethereum (ETH): Fell 3.02%, priced at $3,182.39, with a market cap of $384.59 billion, accounting for 11.00% of the total market value.

What’s Driving XRP’s Price Movements?
The recent volatility in XRP reflects broader uncertainty in the cryptocurrency market, influenced by factors such as:

Regulatory scrutiny on Ripple Labs and its XRP token.
Market reactions to macroeconomic factors like interest rate policies.
Profit-taking by investors after XRP’s recent rally.

Leveraging Data for Better Insights
Investors can monitor cryptocurrency trends and identify opportunities using resources like the Cryptocurrency Prices API provide comprehensive data on price movements and trading volumes, supporting well-informed investment decisions.