Ripple (XRP) Price Holds Strong Relative to Broader Altcoin Meltdown

The bears are having a field day, pushing the total cryptocurrency market capitalization down by more than $130 billion.

This comes on the back of considerable losses from Bitcoin, which dropped by 3% in the past 24 hours. However, the majority of altcoins are having it way worse.

Ethereum is down by 6%, BNB by 4.5%, SOL – by 5%, while many of the large caps are trading at discounts greater than 4%.

That said, there are only two tokens in the top 50 that are in the green, charting nominal gains – TONCOIN and ENA.

Ripple’s XRP is holding very strong relative to the rest of the market and it is seemingly holding its ground, dropping by only 1.2% in the interim. As CryptoPotato reported earlier today, XRP recorded a notable surge in interest in the US during the second quarter, as evidenced by the Q2 report by Coinbase. According to the release, the altcoin surpassed ETH by means of trading revenue, highlighting its surge in popularity and valuation.

Today’s worst performer is HYPE, which dropped by a whopping 11%, followed by Curve DAO (CRV) and SPX6900 (SPX), both of which lost about 7.5%.