XRP Suffers Most as Ethereum, Dogecoin, and Bitcoin Prices Plunge

XRP Leads Declines Among Major Cryptocurrencies

On Thursday morning, XRP experienced the steepest decline among top altcoins, tumbling 15% in the past 24 hours as the broader crypto market turned bearish and Bitcoin continued its downward trajectory.

As of the latest update, XRP was valued at $1.30, reflecting a 28% decrease over the previous week, according to CoinGecko's data.

Earlier in the day, XRP briefly touched $1.28, its lowest level since November 2024—a period when the token had surged following President Trump’s election victory. This marks the largest single-day loss among the top 100 cryptocurrencies by market capitalization.

Performance of Other Leading Coins

• Ethereum dropped 6% in the past day to $1,985, and has lost around 30% over the week.
• Dogecoin fell 8% to $0.09, down nearly 19% in seven days.
• BNB was trading at $666 after a 9% daily decline and a 23% weekly loss.
• Solana slipped to $85, down 8% on the day and 27% compared to last week.

Bitcoin itself briefly dipped below $67,000 before recovering to just above $68,000.

Massive Liquidations and Trading Volume Surge

The sharp downturn triggered the liquidation of over $47 million in XRP derivatives, with nearly $44 million of those being long positions, according to CoinGlass. Across the crypto market, more than $1.43 billion in positions were liquidated in the last 24 hours.

CoinGlass also reports that XRP trading activity soared by 57%, with more than $11 billion worth of XRP traded in a single day.

Market Capitalization and Institutional Impact

Global cryptocurrency market capitalization has dropped 7.4% in the past day to $2.37 trillion, a significant fall from its September 2025 peak above $4.2 trillion.

Meanwhile, Evernorth, an XRP treasury company, is now facing an unrealized loss of $446 million on its 388,710,631 XRP holdings. The firm, which launched in October with the goal of raising over $1 billion to purchase XRP, is supported by Ripple, whose leadership serves as strategic advisors.

In late October, Evernorth invested $947 million in XRP. Since then, the company has not made additional purchases and has seen the value of its holdings drop to about $501 million.

The company has not yet provided a comment to Decrypt regarding the situation.

XRP ETF Activity

Although inflows into XRP ETFs have slowed, they remained positive on Wednesday. Seven spot XRP ETFs in the U.S. recorded $5.9 million in trading volume and net inflows of $6.9 million, according to data from XRP Insights.

Sentiment and Market Outlook

Ripple Labs CEO Brad Garlinghouse has been vocal about the intense efforts to pass the Market Structure bill, but has not addressed the recent bearish trend in the market.

Investor sentiment remains cautious, with the CoinGlass Crypto Fear & Greed Index dropping to 11, indicating "Extreme Fear." The index briefly entered the "greed" zone in January when it reached 62, but has steadily declined since then.