XRP price has plunged 78% amid a savage market rout that liquidated $19.6 billion in positions, the heaviest wipeout since the FTX debacle. Consequently, traders grapple with echoes of past turmoil, as crypto news today spotlights this brutal drop alongside whispers of recovery patterns from 2017.
Moreover, global exchanges register $7.15 billion in daily volume for XRP, now hovering at $2.40 after a 3.15% dip in the last day and 20.46% over the week.
Indeed, while XRP holders absorb this latest blow, attention shifts to emerging protocols like Mutuum Finance (MUTM), which promises steady utility amid the chaos. Furthermore, historical parallels suggest deep corrections often herald rebounds. Yet caution prevails as crypto prices fluctuate wildly.
XRP Suffers Echoes of Historic Plunge
Analysts have drawn stark lines between XRP’s current skid and its 2017 freefall, where the token shed 99% from peaks. Egrag Crypto, a veteran tracker of long-term trends, highlighted similar gut punches: a 77% nosedive followed the 2021 SEC lawsuit against Ripple. Yesterday’s 78% rout compounds those scars, fueling debates on why crypto is down today.
Consequently, liquidations dwarf prior shocks—$1.2 billion vanished in the COVID crash, $1.6 billion during FTX’s fall—leaving XRP in a precarious bind. EtherNasyonaL, another sharp-eyed commentator, spotted 2017’s blueprint repeating: a fierce rally in 2024 met resistance at old highs, then tested 2021 floors now flipping to support. Thus, an accumulation phase brews, potentially priming parabolic surges if momentum ignites.
Mutuum Finance Accelerates Presale Momentum
Mutuum Finance (MUTM) has surged past $17,350,000 raised since presale inception, drawing 17,040 holders into its fold. Phase 6 of 11 phases now unfolds at 65% capacity, with tokens priced at $0.035—a 250% climb from the $0.01 opening in phase one.
Consequently, buyers lock in 420% returns post-launch at $0.06, as phase 6 hurtles toward sellout. Furthermore, phase 7 looms with a 14.3% hike to $0.04, narrowing windows for this entry tier.
