XRP erases $6 billion in a day amid crypto market slide

XRP has taken a sharp hit in the latest crypto market downturn, sliding over 4% in the past 24 hours to trade at $2.18, down from $2.28. The steep drop comes as part of a broader sell-off across digital assets. XRP’s market capitalization has fallen from around $134–135 billion to $128.21 billion, wiping out roughly $6 billion in just a single day, according to CoinMarketCap data on May 30. XRP 1-day market cap chart. Source: CoinMarketCap Zooming out to the weekly chart, the picture looks even more painful. The token has shed over 10% in the last seven days after briefly climbing as high as $2.44. Over the past week alone, XRP’s market cap has plunged by $15 billion. XRP price analysis Despite this short-term turbulence, XRP is still up an impressive 320% over the last 12 months and continues to trade well above its 200-day simple moving average, a sign that its long-term uptrend may remain intact. However, recent price action highlights increasing volatility. Only 13 out of the past 30 days have closed in the green, indicating a win rate of just 43%. XRP 1-day price chart. Source: Finbold Technical traders are now watching two key levels: support appears to be forming around the $2.10–$2.15 zone, while resistance looms overhead near the $2.30 mark. Whether XRP can stabilize above current support or faces another leg down may depend heavily on broader market sentiment and upcoming macroeconomic catalysts. Featured image via Shutterstock The post XRP erases $6 billion in a day amid crypto market slide appeared first on Finbold .