The crypto market surrendered to a broad downturn as XRP led the losses, dropping 15% in 24 hours and trading around $1.30, the steepest decline among the top 100 by market cap. The drop is about 28% from a week ago and marks the lowest since last November, when Trump’s victory previously spurred a rally. Other major coins were also under pressure, with Ethereum down 6% to $1,985 and about 30% weaker over the past week.
Bitcoin also weakened, briefly slipping below $60,000 before stabilizing near $65,000, while Dogecoin lost 8% to $0.09 and logged roughly a 19% weekly loss. BNB and Solana also declined around 9% and 8%, with two-digit weekly losses across many altcoins. CoinGecko data show Bitcoin’s weekly drop at about 23%.
The market volatility surged as large-scale leverage liquidations hit the books, with more than $1.43 billion in crypto derivative positions unwound in the last 24 hours and XRP liquidations accounting for about $47 million, largely from long positions. Market sentiment cooled rapidly as the Crypto Fear & Greed Index sank to 11, entering ‘Extreme Fear’ territory. The global crypto market cap slipped about 7.4% in a day to around $2.37 trillion, erasing much of the peak above $4.2 trillion seen last September.
Evernos, a XRP funding company, holds roughly 390 million XRP and reports unrealized losses of about $446 million after investing about $947 million in October last year. Analysts warn the declines may reflect a structural weakness across major assets, as risk-off sentiment spreads beyond XRP to the broader market.
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