Bitcoin is in the red again Thursday and has fallen by almost 9% over the last week—but nearly every other asset in the top 10 coins by market cap (excluding dollar-pegged stablecoins) is down by double that mark or more, with three of the coins plunging by approximately 26% each in the last week.
XRP, Dogecoin, and Cardano are the biggest losers at the top of the crypto pile over the past seven days.
The Ripple-linked XRP has plunged 26% to $2.33 over the last week, falling from above the $3 mark after hitting a seven-year high price earlier this month. It's down 3% on the day, as of this writing. XRP's price has also suffered in part due to the XRP Ledger blockchain facing technical issues on Tuesday.
XRP Price Falls Following Ledger Downtime as Open Interest Hits Monthly Low
Crypto markets are rattled, but one major asset is bleeding particularly hard on Wednesday: XRP. The fourth-biggest cryptocurrency by market cap is right now the biggest loser out of the top 10 coins and tokens, having dropped by nearly 11% in 24 hours, according to CoinGecko. Its price currently stands at $2.41. Zooming out further, the Ripple-linked XRP has shed 21% of its value over a seven-day period. It's tied with Dogecoin for the biggest loss among the top 10 coins during that span. And...
Dogecoin, meanwhile, has fallen by 26% in the last week to a current price of $0.248, dropping from the $0.34 mark as its famous volatility remains in play. And Cardano has marked the steepest drop of the group of that span, down almost 27% in the last week to $0.71. The token, ADA, had risen to nearly $0.98 last week.
Like most of the market, all three of these coins have seen dramatic swings in recent months, especially following the election win of President Donald Trump. Cardano, for example, spiked from a price of $0.33 on Election Day to a price of $1.23 in early December. Earlier this week, it dipped as low as $0.60 as those recent gains fade from view.
The crypto markets have been highly volatile over the last several days since Trump's team announced that it would follow through on his promised trade tariffs against neighbors Canada and Mexico, along with China.
Trump paused the tariffs against Canada and Mexico after agreeing to negotiations with each country, but 10% tariffs against China went into effect this week. China, for its part, issued retaliatory tariffs against the U.S. and also said it would launch an antitrust investigation against U.S. tech giant Google.
Trump Dump: Could the Trade War Nuke Dogecoin and Meme Coin Mania?
The crypto trenches were lined with disappointment over the weekend and into early Monday, as President Trump’s trade war nuked the chart for many unsuspecting traders. Many popular meme coins have plummeted over the past week, with Official Trump (TRUMP), Dogwifhat (WIF), Pudgy Penguins (PENGU), and ai16z (AI16Z) all showing at least 20% losses—and those losses were much worse earlier Monday. As of this writing, Dogecoin’s price has climbed 10% to nearly $0.29 over the past 24 hours—yet the ca...
Bitcoin is down about 1% on the day at a current price of $96,280. Ethereum has more than doubled Bitcoin's dip over the last week, down almost 18% as of this writing at $2,700, while Solana is down 21% on the week to $190.
