Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The new month is like the last, with the digital currency market experiencing a violent drop that resulted in the evaporation of approximately $200 billion in less than 12 hours.
While there was no obvious catalyst for this decline, traders in highly leveraged positions appeared to be the primary cause of the swift collapse.
While most altcoins were affected, Ripple’s XRP was one of the worst-affected currencies.
While the price of Ethereum (ETH) is down less than 6% and BNB is down around 5%, XRP was down 7% earlier today on most platforms, hitting the $2 level.
The decline brought the currency to a strong support area that had halted similar declines before.
Interestingly, today’s decline is similar to the price action XRP previously experienced as the launch of the spot currency ETF approached.
After “Canary Capital” launched the first such fund in mid-November, Ripple still suffered a significant decline despite the fund’s strong first-day performance.
The “Bitwise” fund for the largest XRP currency also got off to a strong start, but the currency fell back into decline along with the broader market decline.
As a result, many are wondering whether today’s expected launch of the 21Shares spot fund, which tracks the CME CF benchmark XRP/USD, represents a new news sell-off type event.
Since the launch of the first XRP ETF a few weeks ago, the four XRP ETFs listed have attracted more than $660 million in net inflows to date.
The XRPC fund remains the largest of them all, with flows of over $340 million, followed by the “Bitwise,” “Franklin,” and “Grayscale” funds.
As for the drop to $2.04 at the time of writing, this means that XRP has been losing money since the beginning of the year since it opened at $2.32 in 2025.
The performance appears to be in stark contrast to the strong year witnessed by the company behind Ripple, which is considered its best yet.
Also read:
Bitcoin price fell below $87,000, and over 200 million positions were liquidated in one hour
Bitcoin price stabilizes at $91,000, many alternative digital currencies recover
