Ripple (XRP) Crashes Through Key $2 Level

• XRP plummeted to a 24-hour low of $1.64 on Monday, down over 15% for the day and 25% over the past month, with trading volume surging 436% to $11.49 billion amid intense selling pressure.
• The cryptocurrency market faced nearly a billion dollars in liquidations, including $47 million in XRP long positions, triggered by a U.S. tariff package introduced by President Donald Trump on April 2, sparking global economic concerns.
• Despite a slight recovery to $1.75, XRP’s drop below $2 – its lowest in five months – reflects broader risk-off sentiment, amplified by trade policy shifts and significant losses in Bitcoin and Ethereum.

Ripple’s XRP, a prominent cryptocurrency with a $102 billion market cap, experienced a dramatic plunge on Monday, tumbling to a 24-hour low of $1.64 – its weakest level in five months – before recovering slightly to $1.75, still down over 15% for the day. This sharp decline reflects broader turmoil in the cryptocurrency sector, exacerbated by nearly a billion dollars in total liquidations across the market, including $320 million for Bitcoin (BTC) and $270 million for Ethereum (ETH). XRP itself saw $47 million in long positions forcibly liquidated, according to Coinglass data, intensifying the token’s slide as selling pressure mounted. Over the past month, XRP has lost more than 25% of its value, underscoring its vulnerability as a high-risk asset amid deteriorating global risk sentiment.

The catalyst for this market upheaval stems from significant U.S. trade policy shifts, notably a sweeping tariff package introduced by President Donald Trump on April 2, targeting imports. This move, dominating financial discourse in recent days, has sparked fears of economic slowdown, driving broad sell-offs across equities and cryptocurrencies alike. As trade tensions escalate, particularly with key U.S. trading partners, investor confidence has wavered, hitting speculative assets like XRP hardest. Remarkably, XRP’s 24-hour trading volume soared to $11.49 billion, a 436% surge, signaling heightened activity even as prices cratered below $2. While the token’s long-term utility in cross-border payments remains a point of discussion, its immediate outlook appears bleak, caught in the crosshairs of macroeconomic instability and aggressive market liquidation.

WallStreetPit does not provide investment advice. All rights reserved.