XRP market cap has lost over $20 billion in the past 24 hours

XRP's market value plummeted by more than US$20 billion, and the crypto market suffered heavy losses over the weekend! Finbold cited CoinMarketCap data showing that XRP's market value evaporated by more than $20 billion in the past 24 hours.

XRP price fell sharply, resulting in a triple-digit loss in market value. Data shows that XRP's market value plummeted from US$121.81 billion on April 6 to US$100.28 billion at press time on April 7.

Meanwhile, trading volumes have increased significantly, almost tripled, soaring from $2.26 billion to $9.6 billion.

The loss occurred in the context of the SEC's failure to make a final ruling on the Ripple case. The SEC recently reached a settlement with the binary and revoked lawsuits against Blockfi and Bittrex, but in similar cases, the SEC often formally canceled the case shortly after a similar announcement was issued.

The huge losses may also be related to the recent economic downturn. The overall market value of the crypto market shrank by $300 billion over the weekend, and the S&P 500 also recorded a 13.54% decline in the year.

Finbold data shows that the market value loss of cryptocurrency markets reached three digits over the weekend, specifically $300 billion. As of press time on April 7, the total market value dropped to $1.90 trillion.

It is worth noting that on-chain data shows that XRP network activity has dropped by as much as 65%. XRP's market value plummeted by more than US$20 billion in 24 hours, coupled with the loss of US$300 billion in the crypto market over the weekend, which attracted market attention.

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