XRP Token Drops 13.76% Amid Record $5.8B Volume and Four-Month Low, Market Turbulence Intensifies

XRPUSDT experienced a sharp price decline of -13.76% in the past 24 hours, with the current price at 1.3772 (Binance data). This drop is primarily attributed to broad risk-off sentiment in the tech and cryptocurrency sectors, increased liquidations of long positions, and reduced leveraged trading activity as open interest fell to its lowest level since November 2024. Despite net inflows of $4.8 million into XRP spot funds, selling activity intensified amid market volatility, further exacerbated by large holders such as Evernorth Holdings reporting significant unrealized losses. Trading volume surged to over $5.8 billion, reflecting heightened market activity and liquidity even as the asset slid to a four-month low.