Major Losses:
- 4% drop in 24 hours: from $2.28 to $2.18
- Market cap fell from $134-135B to $128.21B
- Weekly losses reach 10% and $15B market cap decline
- Despite drop, still up 320% over 12 months
📉 Sharp Decline Amid Broader Selloff
XRP has taken a sharp hit in the latest crypto market downturn, sliding over 4% in the past 24 hours to trade at $2.18, down from $2.28. The steep drop comes as part of a broader sell-off across digital assets.
According to CoinMarketCap data on May 30, XRP’s market capitalization has fallen from around $134–135 billion to $128.21 billion, wiping out roughly $6 billion in just a single day.
📊 Weekly Picture Even More Painful
Zooming out to the weekly chart reveals an even more concerning trend. The token has shed over 10% in the last seven days after briefly climbing as high as $2.44. Over the past week alone, XRP’s market cap has plunged by $15 billion.
📈 Technical Analysis Overview
Despite short-term turbulence, XRP remains up an impressive 320% over the last 12 months and continues trading well above its 200-day simple moving average, suggesting the long-term uptrend may remain intact.
Volatility Metrics:
- Only 13 out of the past 30 days closed green
- Win rate: just 43%
- Indicating increased recent volatility
🎯 Key Technical Levels to Watch
Technical traders are monitoring two critical levels:
- Support: forming around the $2.10–$2.15 zone
- Resistance: looming near the $2.30 mark
Whether XRP can stabilize above current support or faces another leg down will likely depend heavily on broader market sentiment and upcoming macroeconomic catalysts.
Bottom Line: While the recent decline is painful for holders, XRP’s strong yearly performance suggests the asset maintains long-term appeal among investors despite short-term volatility challenges.