As the crypto market continues to fall prey to bearish sentiment, XRP crashed to $1.08 on June 5. The cryptocurrency has lost around 48% of its value in a year, and its short-term prospects d
As the crypto market continues to fall prey to bearish sentiment, XRP crashed to $1.08 on June 5.
The cryptocurrency has lost around 48% of its value in a year, and its short-term prospects don't look bright either.
Related: Dave Portnoy makes bold call as Bitcoin, XRP crash
Launched in 2012, XRP is the native cryptocurrency of the XRP Ledger. Some of the members, such as Jed McCaleb, David Schwartz, and Arthur Britto, who developed the blockchain network later went on to found Ripple Labs (originally OpenCoin).
For years, XRP was the face of the regulatory battle regarding the financial status of cryptocurrencies in the United States.
In December 2020, the Securities and Exchange Commission (SEC) sued Ripple Labs for offering unregistered securities to investors via the sale of XRP tokens.
Ripple countered the SEC's claim, saying XRP is a digital currency and not a token.
The legal battle reached a dramatic point in July 2023 when Judge Analisa Torres ruled that Ripple’s programmatic sales of XRP on crypto exchanges didn't constitute securities transactions, but the sale of those tokens to institutional clients indeed violated securities laws.
It was a partial victory for both parties but the matter didn't end there as both decided to appeal the ruling.
The legal battle went on for years until both parties reached a settlement in August 2025.
The dispute was shaped by shifting political dynamics in the U.S., as the securities regulator intensified its scrutiny of cryptocurrencies during the Joe Biden administration before easing its approach following Donald Trump's return to the White Office in January 2025.
The crypto market rallied following Trump's pro-crypto announcements, and XRP hit the all-time high (ATH) of $3.65 on July 18, 2025.
But the crypto flash crash on Oct. 10, 2025, led to XRP losing all the gains in subsequent months.
Latest, Strategy (Nasdaq: MSTR) announced a partial sale of its Bitcoin holdings earlier this week on June 1, and all hell broke loose as the crypto market further collapsed.
XRP slipped to $1.08 on June 5—the last time it crashed this low was in November 2024. In fact, the cryptocurrency had crashed as low as $0.50 back then.
XRP/USD, DecibelWith a market capitalization of $67.8 billion, XRP is the sixth-largest cryptocurrency. Currently, it is trading 70% lower than its ATH at $1.12.
