XRP Price Drops 70% from Peak Amid Market Turmoil

XRP's price has dropped significantly, falling below $1.10 and marking its lowest point since 2024. According to technical analyst ChartNerdTA, the cryptocurrency is likely to test its middle regression band at $0.84, representing a further 23% decline from current levels.

A recent update by David Schwartz, Ripple's CTO emeritus, highlights the growing adoption of XRP Ledger for real-world asset tokenization, potentially contributing to long-term growth. However, spot XRP exchange-traded funds have not been enough to halt the ongoing liquidation cascade.