Market Update: XRP Plummets 13% as Bitcoin Dips Below $70K

XRP is the biggest loser among the top 100 altcoins today, dropping below $1.40. Other cryptocurrencies like ZEC and MORPHO have also seen significant declines.

Bitcoin Dips Below $70K

Bitcoin has not performed well, erasing all gains made following Trump’s reelection and falling below $70,000. Even altcoins like ETH, BNB, SOL, DOGE, and ADA have not been spared from this downturn.

Recent Price Movements

Just last week, Bitcoin traded close to $90,000. However, instability took hold, causing a series of drops. Initially falling to $81,000 last Thursday, bouncing back slightly on Friday to $84,000, only to drop again to under $75,000 by Saturday. After a failed recovery attempt, it sank to $73,000 on Tuesday and earlier today fell below the critical $70,000 mark for the first time post-2024 elections. Currently, it stands slightly above this threshold but remains down 7% for the day and 20% weekly.

Altcoins Under Pressure

The picture is similar across altcoins. Ethereum (ETH) is down by 6%, with concerns heightened as co-founder Vitalik Buterin begins selling his holdings. XRP faces double-digit losses, dropping beneath $1.38—its lowest price in over a year. Meanwhile, total market capitalization has dwindled, shedding around $170 billion and now hovering below $2.5 trillion.

Cryptocurrency Market Overview

Conclusion

As the market continues to fluctuate, both Bitcoin and various altcoins are struggling to find stability amidst overall bearish sentiment.