XRP fell to its lowest level since 9 April during early Asian trading, extending losses across altcoins as risk appetite in crypto markets remained weak.
The token dropped to around $1.77 at approximately 01:30 UTC, according to XRP/USD data on Coinbase via TradingView, before paring losses later in the session.
Despite the modest rebound, XRP remains down about 8% over the past seven days, reflecting continued pressure on higher-beta crypto assets amid tightening liquidity conditions.
Altcoin weakness broadens
Losses were widespread across major tokens. Ether (ETH) is down about 9% over the past week, while Solana has declined nearly 10%.
Cardano has underperformed, falling more than 14%, and Chainlink is lower by around 12%, according to TradingView data.
The CoinMarketCap Altcoin Season Index fell to 15, signalling a sustained Bitcoin-dominant environment.
The index has remained below 25 for several weeks, indicating persistent underperformance among large-cap altcoins relative to Bitcoin.
Bitcoin holds relative ground
Bitcoin has shown comparatively greater resilience, down around 5% week on week as of 13:30 UTC, with prices consolidating near the $87,000–$88,000 range.
While the world’s largest cryptocurrency’s stability has helped limit broader market drawdowns, it has offered limited support to altcoins, which remain more sensitive to shifts in funding costs and risk positioning.
Broader sentiment indicators remain weak. The Crypto Fear and Greed Index stood near 21 concurrently, firmly in fear territory, pointing to cautious positioning across crypto markets.
The sell-off unfolded ahead of the Bank of Japan’s rate decision, with traders paring risk into the event in a classic 'sell-the-rumour' pattern. XRP slid to April lows during Asian trading hours as positioning turned defensive across altcoins.
After the BoJ confirmed a widely expected 25 bp rate hike to 0.75%, selling pressure eased. XRP rebounded to around $1.86 alongside broader crypto markets, suggesting the move had largely been priced in.
What markets are watching
With XRP stabilising off its lows, traders are monitoring whether the rebound can attract sustained volume.
Twenty-four-hour trading volume rose more than 30% to about $4.7 bn as of 09:00 UTC, according to CoinMarketCap data, pointing to short-term repositioning rather than a clear shift in sentiment.
Market participants remain focused on liquidity conditions and funding costs, with altcoins likely to remain vulnerable unless broader risk sentiment improves.
