XRP has dropped beneath a significant support level, reflecting the broader pressure across the digital asset market. As key cryptocurrencies experience notable losses, investor sentiment continues to waver.

Bitcoin Dips Under $113K After Market Volatility

The week kicked off with heightened volatility for bitcoin following a stable weekend that saw the cryptocurrency hover near $117,500. When trading began on Monday, bitcoin quickly fell to $115,000, marking its lowest point in 11 days at the time. The drop came amid global political developments, including meetings between former President Trump, Ukrainian President Zelenskyy, and several European leaders.

Despite a brief price rebound to $117,000 on Tuesday, the momentum didn’t hold. Bitcoin plummeted again, reaching sub-$113,000 levels during late Tuesday and early Wednesday trading. This plunge brought the asset to its lowest valuation in nearly three weeks, as market sentiment turned fearful.

While BTC recovered slightly to around $114,000, it remains in the red on the daily chart. Its total market value now stands at approximately $2.265 trillion. Despite the correction in alternative cryptocurrencies, bitcoin’s market dominance remains under 58%.

Bitcoin price struggles to regain momentum after dropping below $113K.

Altcoins in Decline: XRP and ADA Lead Losses

The altcoin landscape has also turned negative, with ripple effects seen across a majority of the top assets. Ethereum dropped about 1% to approach $4,200 and similar percentage decreases hit coins like BNB, DOGE, XLM, and SUI.

Ripple’s XRP declined by over 4%, slipping below the $3.00 threshold—considered an essential support level during uptrends. The digital token reached $2.90, reflecting weakening momentum and market confidence. These dips follow reports of whale activity, including large-scale XRP offloading, further intensifying downward pressure.

Meanwhile, Cardano’s ADA faced the biggest decline among large-cap altcoins. An over 8% loss dragged its value down to $0.85, reflecting a sharp drop from recent highs. SOL, TRX, LEO, and TON were among the few coins that posted small recoveries, with LINK notably gaining 3% in the same period.

Broader cryptocurrency market overview: Most assets trade in the red.

Market Outlook Remains Cautious

The overall cryptocurrency market capitalization shrank by over $70 billion overnight, pushing the total down to $3.92 trillion, based on CoinGecko (CG) data. This widespread dip underscores the uncertainty currently prevailing across both institutional and retail investors.

With key support levels breaking for major tokens like XRP and ADA, and with bitcoin remaining volatile, the near-term outlook appears tense. Traders and analysts will be watching carefully for signs of recovery or further decline in the upcoming trading sessions.

Despite some isolated gains, the crypto landscape clearly reflects a risk-off environment for now.

Related: XRP Price: $12M Max Pain for Bears

For context and continuing updates, refer to the full developments here.