XRP's Value Plummets Amid Market Turmoil

On a turbulent Friday night and Saturday morning, the cryptocurrency market saw a significant downturn, with prominent coins like Bitcoin and Ethereum experiencing declines of up to 30%. However, XRP, a major altcoin, was hit particularly hard, dropping below $1.5 across many exchanges and even falling beneath the $1 mark on Binance.

In just a half-hour timeframe, XRP’s market capitalization plummeted by 50%, decreasing from $161 billion at 4:50 PM ET to only $80 billion by 5:20 PM ET, as reported by the Kobeissi Letter.

This was an unprecedented liquidation event: Amid the crypto crash yesterday, $XRP erased a whopping -50% of its market cap in 30 MINUTES.
At 4:50 PM ET, $XRP was valued at $161 billion.
By 5:20 PM ET, $XRP was down to $80 billion.
What happened to XRP? Link — The Kobeissi Letter (@KobeissiLetter) October 11, 2025

What Caused XRP’s Decline?

Although XRP fell to a low of $0.80 on Binance, other exchanges reported higher values, with prices staying above $1.20. This discrepancy has sparked confusion and concern within the crypto community, particularly among XRP supporters.

ERGAG CRYPTO, an analyst, suggested that this decline was a tactical move to liquidate XRP long positions, also implicating Binance and its former CEO in the downfall, remarking on the varied price changes across significant cryptocurrencies.

“The market collapsed in just 8 minutes, and #XRP experienced the highest percentage drop compared to #BTC and #ETH. #BTC only dropped 13% from $118K, which was a normal retracement. #ETH fell by 14-15%. That’s unusual! and #XRP from $2.65 dropped 70%.”

The Future of XRP

After the market fluctuations, XRP has notably regained some stability, trading around $2.40 on various exchanges. Yet, analyst Ali Martinez cautioned that XRP may still face challenges ahead as it must overcome critical threshold levels for a more favorable market outlook.

$XRP remains below the crucial red line, suggesting a bearish trend: – Below the red line = bearish.
– Above the red line = bullish. Chart — Ali (@ali_charts) October 12, 2025