XRP Price Drops Amid Broader Crypto Market Risks

XRP's price dropped by around 7-8% due to a sharp pullback following a rapid rally, which was exacerbated by broader crypto market risks.

The move is part of a larger risk-off phase in the crypto and macro markets, with the total crypto market cap down about 2.8% over the last 24 hours.

US Treasury yields have added pressure on risk assets, including Bitcoin, Ethereum, and XRP, while geopolitical tension also contributed to the selloff.

XRP's high beta profile turned this macro risk into a larger percentage move, with short-term traders noting profit-taking after the asset surged from around $1.38 to $1.65 in just a few days.