XRP has experienced a significant market value decline, losing $18.94 billion over the past week as its price fell from $3.13 to $2.81. This drop occurred during a broader cryptocurrency market sell-off, which saw over $1.5 billion in crypto positions liquidated between September 24 and 25. Despite a 36.7% increase in 24-hour trading volume to $7.19 billion, XRP faced substantial selling pressure. The token's price fell below critical technical levels, including the 50% Fibonacci retracement at $2.93 and all major short-term moving averages. Analysts are closely monitoring the $2.71 support level, which has historically served as a rebound point for XRP.