XRP suffered a sharp 10.14% decline on Monday, marking its largest drop since February 24. The cryptocurrency fell to $2.3051, reducing its market cap to $137.69 billion, or 4.48% of the total crypto market.

Key Trends in XRP Market Performance

Weekly Performance: Down 11.23% over the past week.

Trading Volume: At $5.46 billion, representing 4.81% of the total crypto market volume.

Despite this decline, XRP remains 32.11% below its all-time high of $3.40, recorded on January 16.

This drop aligns with broader market declines, emphasizing deteriorating risk sentiment.

Broader Crypto Market Overview

• Bitcoin (BTC): Current price at $93,137.7, down 2.77%, and a market cap of $1.87 trillion, constituting 60.71% of the cryptocurrency market.
• Ethereum (ETH): Now priced at $2,565.26 with a drop of 8.51%, giving it a market cap of $319.23 billion, or 10.38% of the total crypto market cap.

Both Bitcoin and Ethereum face declines, reflecting overall market conditions.

Future Outlook for XRP

Key Factors Influencing XRP’s Path:

• Overall Market Sentiment – Crypto’s volatility can lead to swift rebounds or further drops.
• Regulatory Environment – XRP’s value has been influenced by legal challenges with the SEC.
• Bitcoin Performance – Bitcoin’s price movements often shape overall market trends.

Short-term pressures exist, but XRP’s long-term prospects will depend on the wider crypto landscape.