XRP Drops 9% Amid Geopolitical Tensions and Market Selloff

XRP's price dropped by 9.17% within 24 hours, influenced by heightened geopolitical tensions due to recent strikes by Israel and the United States on Iran. This decline was part of a broader market selloff that saw the total cryptocurrency market cap fall by 6.2%, reaching $2.2 trillion.

The selloff triggered significant liquidations across the crypto derivatives market, with data from Coinglass indicating that 152,275 traders were liquidated, totaling $515 million. XRP's decline was approximately 1.7 times that of Bitcoin's 5.49% drop, highlighting its underperformance in a risk-off environment.

Ripple also announced a major strategic shift for the XRP Ledger (XRPL) by 2026, moving towards a decentralized model involving a DAO and independent hubs, aiming to reduce reliance on a single entity. The total supply of wrapped XRP (fxrp) on the Flare network reached nearly 106 million, with approximately 70% of the supply locked in DeFi protocols, indicating a cautious market sentiment among holders.