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XRP was the worst-performing altcoin among the leading cryptocurrencies Thursday morning, showing a 15% drop over the last 24 hours as markets swing bearish and Bitcoin extends its losses.
At the time of writing, XRP was trading for $1.30 after having dropped roughly 28% in the past week, according to crypto price aggregator CoinGecko.
An earlier dip to $1.28 marked the lowest price for the Ripple-linked asset since November 2024, when XRP surged in the wake of President Trump's election win. It's also the biggest daily drop of any coin in the top 100 cryptocurrencies by market cap over the last day.
Ethereum was recently trading at $1,985 after plunging 6% on the day and losing about 30% of its value in the last week, while original meme coin Dogecoin is down about 8% on the day to $0.09, shedding nearly 19% of its value over the past seven days.
BNB was recently changing hands for $666 after having dropped 9% in the past day, losing 23% in the past seven days. Solana had dipped to $85, after falling about 8% in the past day, and was 27% lower than it was this time last week.
Bitcoin dove below the $67,000 mark Thursday morning, but was recently trading just above $68,000.
Bitcoin Crashes Below $67K, Erasing All Gains Since Trump's Election Win
The drawdown has resulted in the liquidiation of more than $47 million worth of XRP derivatives contracts. And the bulk of them, nearly $44 million worth, were long on XRP, according to on-chain analytics platform CoinGlass. Overall, more than $1.43 billion worth of crypto positions have been liquidated in the last day.
The platform also shows that XRP trading volume has jumped by 57%, with over $11 billion worth of coins changing hands in the past 24 hours.
The global crypto market capitalization has now fallen 7.4% on the day to $2.37 trillion after having peaked above $4.2 trillion in September 2025.
Meanwhile, XRP treasury firm Evernorth now has a $446 million unrealized loss on its 388,710,631 XRP stash. The company debuted as an XRP treasury in October, saying that its goal was to raise more than $1 billion to buy XRP. It also has backing from Ripple, whose executives are acting as strategic advisors to the firm.
In late October, the company spent $947 million buying XRP. It hasn't made another buy since then, but it has watched the value of its XRP holdings drop sharply to approximately $501 million.
The company didn't immediately respond to a request for comment from Decrypt.
XRP ETF inflows slowed down, but didn't turn red yesterday. The seven spot XRP ETFs that are trading in the U.S. saw $5.9 million in volume and net inflows of $6.9 million on Wednesday, according to an ETF tracker maintained by XRP Insights.
Ripple Labs CEO Brad Garlinghouse has been outspoken about the "absolute firestorm of action to get the Market Structure bill passed," but hasn't commented on markets going bearish.
Crypto traders are broadly feeling skittish about current market conditions. The Crypto Fear & Greed Index maintained by CoinGlass has dropped to 11, firmly in the "Extreme Fear" category. During the month of January, it very briefly ticked into the greed category when the index peaked at 62, but has been steadily declining since then.
