XRP Market Cap Drops Over $7 Billion Amid Broader Crypto Cooling and Potential Correction

Key Points

1. XRP's market cap fell from approximately $215 billion to $208 billion, a 1.1% decline, with liquidations exceeding $556 million.

2. XRP's price dropped sharply from $3.51 to $3.42 before a partial rebound, reflecting high volatility after a 50% gain over 13 days.

3. Regulatory discussions during Crypto Week initially boosted XRP's price, but a subsequent lull in regulatory activity contributed to the sell-off.

4. Bitcoin experienced its first ETF outflow since early June, adding complexity to market sentiment and liquidity conditions.

5. XRP's recent price movements highlight the impact of profit-taking and short-term pullbacks following rapid appreciation.