Ripple’s XRP ($2.36) has faced heavy selling pressure in the past 24 hours. The token fell nearly 6 percent, slipping from highs above $3.00 to a current trading price of $2.83. The sharp decline highlights investor caution, despite broader optimism surrounding Ripple’s growing institutional adoption. The dip places XRP 26 percent below its all-time high of $3.84, reached back in January 2018. Yet, it still towers over its all-time low of $0.0028 recorded in 2014, underscoring its long-term resilience.

Market Capitalization and Supply Dynamics

At the time of writing, XRP’s market cap stands at $168.46 billion, down almost 6 percent in a day. The fully diluted valuation (FDV) stands at an impressive $283.23 billion, indicating the potential scale XRP could reach if its entire supply were unlocked. Currently, approximately 59.48 billion XRP are in circulation out of a maximum supply of 100 billion.

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Despite the decline in price, trading activity has remained strong, with $7.43 billion in volume over the past 24 hours, representing a 6.55 percent increase. This indicates that, although the price dropped, investor participation actually increased.

_{24-hour price chart Source: CoinMarketCap}

During the last trading session, XRP’s price fluctuated between a low of $2.84 and a high of $3.02. This tight range suggests short-term volatility but also reflects attempts by bulls to defend the $2.80 zone. The key psychological support now rests around $2.80, while $3.00 remains an immediate resistance level. A decisive break in either direction could shape XRP’s next trend.

Investor Sentiment and Outlook

Despite the price pullback, XRP remains a dominant player in the crypto market. Its role in powering Ripple’s global payments ecosystem continues to attract institutional attention, even as traders digest recent swings. For long-term investors, the decline may be seen as a healthy correction before a potential next leg up. However, short-term traders must watch closely for momentum shifts, as increased trading volume hints at possible larger moves ahead.

Related article: Ripple’s XRP Battles Dip: Can Bulls Push Past $3 Again?

XRP has endured a 5.9 percent daily drop, slipping below the $2.85 mark. With market cap contraction, rising trading volume, and support levels being tested, the next 24 hours could determine if XRP stabilizes or faces further downside pressure.

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