XRP fell 2.29% to $1.33 on September 2, leading a broad crypto selloff as fresh US-Iran tensions spooked investors. The wider market dropped 0.91% over the past 24 hours, with total cryptocurrency capitalization hovering near $2.6 trillion. Bitcoin slid below $77,000, while ether traded around $2,395.
Geopolitical jitters
The trigger was a new flare-up in US-Iran relations, though the exact details remain murky. Traders moved to the sidelines, and risk assets across the board took a hit. Crypto, often touted as a hedge, behaved like a risk-on trade this time.
XRP's slide
XRP's drop to $1.33 marks a notable retreat from recent levels. The token has been sensitive to broader sentiment, and today's move tracks the market's overall direction. No exchange-specific issues or regulatory news were cited in the decline.
Market snapshot
Bitcoin's fall below $77,000 is a psychological marker, though it's still well off its lows. Ether's $2,395 price point keeps it in a tight range. The total market cap's proximity to $2.6 trillion suggests the pullback is modest, not a rout.
What to watch
All eyes are on Washington and Tehran for any de-escalation. If tensions ease, crypto could bounce quickly. If they worsen, expect more downside. The next 48 hours will likely set the tone for the week.
