The cryptocurrency market has been gripped by a significant downturn, with Ripple’s XRP token plunging to its lowest level in over a year, breaching the crucial $0.40 mark. This abrupt decline has rattled investors and traders worldwide, marking a stark contrast to earlier optimism about XRP’s bullish trajectory.

Understanding the Recent Market Correction

The correction in the cryptocurrency sector has been severe, with the global market capitalization dropping below $2.1 trillion, according to data from Coin Gecko.&middot

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