XRP Price Drops Below $2 Amid Market Volatility

According to U.Today, the Ripple-affiliated XRP token experienced a significant decline, falling below the $2 mark for the first time since December 1. CoinGecko data indicates that XRP reached an intraday low of $1.94, marking a roughly 15% drop over the past 24 hours. This decline places XRP among the worst-performing tokens in the top 100, alongside Stellar (XLM), Polkadot (DOT), EOS, and several meme coins such as Floki (FLOKI), Bonk (BONK), and dogwifhat (WIF). Despite the notable price correction, a pseudonymous trader known as DonAlt, who accurately predicted a recent rally, remains optimistic about XRP's future. He suggests that if the broader crypto bull market continues, XRP could maintain its prominence. DonAlt also believes that the XRP ecosystem is undervalued compared to other tokens, stating that if the bull market persists long enough for XRP to launch a useful product, it could become one of the best-performing assets in this cycle. Earlier today, Weiss Crypto, a provider of independent ratings for stocks and cryptocurrencies, highlighted XRP's massive rally as a potential warning sign for the cryptocurrency market. This observation coincided with increasing leverage, including skyrocketing stablecoin borrowing rates and extreme funding rates on crypto swaps, which the firm described as classic red flags. Additionally, data from CryptoQuant revealed that more than 2.6 billion XRP tokens were recently moved to exchanges, marking the highest number of XRP tokens deposited since April.