XRP Loses $20 Billion in Market Cap in 24 Hours Amid Market Crash

• XRP loses capitalization.
• Trading volume explodes.
• Strong XRP selloff.

O XRP , one of the most closely watched cryptocurrencies on the market, has seen a significant drop in its market cap over the past 24 hours amid a sharp drop in the asset’s price. Market data reveals that the market cap of Ripple’s native token has plummeted from $121,81 billion on April 6 to hit $100,28 billion today, representing a loss of over $20 billion in a single day.

On Monday morning, April 7, the asset fell by more than 14%, reaching a low of US$ 1,65. At the time of publication, the price of XRP was quoted at US$ 1,88 with a drop of 8.6% in the last 24 hours. The decline increased the weekly losses to 13.3%.

In parallel with the significant drop in market value, XRP’s trading volume has seen an exponential increase, nearly quadrupling in the same period. Jumping from $2,26 billion to over $10 billion, this spike in activity suggests intense buying and selling amid the price turbulence.

At the time of publication, XRP (XRP) trading volume recorded was $12.551.169.996 over the past 24 hours, representing a 564,50% increase from a day ago and signaling a recent surge in market activity.

Furthermore, amid the negative market scenario, data Coinglass data reveals a massive sell-off on the XRP network over the past 24 hours, hitting $71,58 million.

XRP Network Activity Drops Sharply After All-Time High

After recording one of the biggest gains in the current bull market, the XRP cryptocurrency is now faces a notable slowdown. On-chain data indicates that daily active address activity has seen a dramatic 65% drop. At the peak of interest on January 16, 2025, the number of active addresses reached 63.389. However, by April 3, this number had plummeted to just 22.859, revealing a significant decrease in network activity.

This decline coincides with the end of a period of intense speculation that lasted from November 7, 2024, to mid-January 2025, during which XRP appreciated by more than 485%. The initial optimism was driven by the expectation that a crypto-friendly administration would benefit Ripple and its ecosystem. During this period, the number of daily active addresses increased by more than 432,6%.