Longs are struggling to push the XRP token back above the critical $3 threshold.
XRP is one of the highest market cap altcoins, dropping to an intraday low of $2.96 earlier this Monday.
Due to longs struggling to regain momentum, the token has fallen to its lowest level since August 6.
CoinGecko data shows that XRP is currently the second worst-performing token among the top ten, with a decline of over 4% in 24 hours. Only Solana (SOL) performed worse, with a drop of up to 5%.
The entire cryptocurrency market is currently facing significant sell-off pressure, with Bitcoin also taking a major hit.
Longs are being wiped out.
Earlier this Friday, the leading cryptocurrency nearly fell below the $115,000 mark, hitting an intraday low of $115,059.
According to CoinGlass, cryptocurrencies worth up to $464.7 million were liquidated in the past 24 hours. Among them, long positions accounted for the largest share ($380 million).
Maintain key levels.
According to (USA Today), $2.81 is seen as a key level for major cryptocurrencies to hold, as approximately 1.7 billion tokens have accumulated there.
XRP's current trading price is $2.98.
