Ripple (XRP) had a rough 24 hours, shedding 5.42% of its value to trade at $2.81 at the time of writing. The dip pulled its market cap down to $168.37 billion, a 5.35% slide, suggesting investors have been taking profits or reacting to a sudden wave of selling pressure.
Interestingly, while the price dropped, trading activity skyrocketed. The 24-hour volume surged by 123.93%, reaching $7.53 billion. This spike shows that XRP remains one of the most actively traded assets, with both buyers and sellers making big moves during the dip.
A Sharp Sell-Off After Midnight
The XRP chart shows relatively stable trading earlier in the day, hovering around $2.97. However, momentum shifted dramatically after midnight. Prices tumbled sharply below $2.85 and tested a low of $2.78 before finding support.
24-hour price chart. Source: CoinMarketCap
Since then, XRP has been consolidating sideways near $2.81, hinting at potential accumulation or hesitation from traders waiting for a clearer direction. The daily range shows a low of $2.78 and a high of $2.99, signaling strong intraday volatility.
Related article: XRP Bulls Eye $3.70: Can Key Support at $2.70 Ignite a Rally?
This drop puts XRP 26.62% below its all-time high of $3.84, recorded in January 2018. However, XRP is still up an incredible 100,505% from its all-time low of $0.0028 back in July 2014, underscoring its long-term growth story.
What to Watch Next
If XRP holds above $2.80, bulls may attempt to reclaim the $2.90 zone and push toward $3 again. On the downside, failure to hold $2.78 could open the door for further declines.
The heightened trading volume suggests traders are positioning themselves for a potential breakout in either direction, making the next 24 hours critical.
