Greed

Crash

Ethereum

<ul> 
 <li>XRP has dropped over 33% over the past week and 20% in the last 24 hours, reaching a low of $0.44.</li> 
 <li>The crypto market has lost over $500 billion, marking a 14.5% decline and the most severe crash in over a year.</li> 
</ul> 
The cryptocurrency market is grappling with significant losses as the beginning of August has shown an unprecedented downturn. The primary trigger for this sell-off appears to be looming uncertainties regarding Jump Crypto’s sell-off. This issue has led to widespread panic among investors, worsening an already volatile situation. 
XRP has taken a substantial hit, wiping out <a href="https://thenewscrypto.com/ripple-xrp-could-exhibit-a-mega-price-pump-analyst/" target="_blank" rel="noreferrer noopener">all gains</a> from the past two weeks. Currently, XRP is down 19.57% on the daily chart, mirroring broader market struggles. The overall market has recorded $1.11 billion in liquidations. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img decoding="async" width="762" height="390" src="https://thenewscrypto.com/wp-content/uploads/2024/08/image-22.png" alt="" class="wp-image-104903" srcset="https://thenewscrypto.com/wp-content/uploads/2024/08/image-22.png 762w, https://thenewscrypto.com/wp-content/uploads/2024/08/image-22-300x154.png 300w" sizes="(max-width: 762px) 100vw, 762px">
 <figcaption class="wp-element-caption">
 Ripple (XRP) Price Chart (Source: <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>)
 </figcaption>
 </figure>
</div> 
<h3 class="wp-block-heading" id="h-what-causes-xrp-to-drop">What Causes XRP to Drop?</h3> 
The past few days have been particularly harsh, with the global cryptocurrency market shedding over $500 billion in value, marking a 16% decline. This turned into a significant crash in over a year. Simultaneously, the Japanese stock market faced a slump, and the S&amp;P 500 experienced a 4.4% drop over the past three days, influenced by weak employment data, sluggish growth in major tech stocks, and renewed recession fears. 
Further, a much-anticipated <a href="https://thenewscrypto.com/xrp-at-a-crossroads-analyzing-market-sentiment-ahead-of-crucial-sec-ripple-meeting/" target="_blank" rel="noreferrer noopener">closed-door</a> meeting between SEC officials, which had grabbed the attention of crypto traders hopeful for a resolution with Ripple, was quickly canceled. Neither Ripple nor the SEC have provided any clarification, leaving the community in a state of uncertainty. 
XRP’s performance has been particularly dismal, plummeting by 24% over the past week and 17% in the last 24 hours. Currently trading at approximately $0.44, XRP is at its lowest level in nearly a month, according to Coingecko. 
The Crypto Fear &amp; Greed Index now indicates “Extreme Fear,” a signal typically advising against substantial purchases during such tumultuous times. 
Bitcoin (BTC) and Ethereum (ETH) have also been heavily impacted. Bitcoin briefly dipped below $49,100 for the first time since February, while Ethereum experienced a dramatic 23% drop in a single day and is now trading around $2,280. 
Highlighted News of Today 
<a href="https://thenewscrypto.com/is-bitcoin-heading-towards-a-drop-below-40k/" target="_blank" rel="noreferrer noopener">Is Bitcoin Heading Towards a Drop Below $40K?</a>

XRP’s Recent Surge Erased with 20% Dip Amid Crypto Crash

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