Key Takeaways
- XRP plunged to $1.265 on May 28 during a market rout that pulled total crypto capitalization down to $2.58T.
- XLM bucked the trend, surging 22% after a tokenization partnership with DTCC and Stellar was announced.
- RAIN continued its rally by 8.5%, with investors watching its 90% seven-day gains for what comes next.
XRP Hits Multiweek Lows
XRP plunged Thursday, May 28, to its lowest level since early April amid a cryptocurrency market rout that also pulled bitcoin down to multiweek lows. Market data shows XRP briefly tumbled to $1.265, its lowest since April 5, before reversing some losses to settle at $1.29. The cryptocurrency’s price action meant XRP had shed 3.2% of its value over 24 hours and nearly 6% over seven days.
Consequently, XRP’s market capitalization slipped below $80 billion, further widening its gap with fourth-ranked BNB. Although XRP kicked off the first few days of 2026 on the ascendancy, rising to $2.40, it plunged to $1.22 by Feb. 6. Since then, it has largely ranged between $1.30 and $1.60, struggling to recapture the momentum that drove it to an all-time high of $3.66 in 2025.
At the time of writing, XRP’s year-to-date gains stood at 30%. XRP’s performance mirrored that of high-cap altcoins, many of which saw losses ranging between 3% and 6%. Privacy coins ZEC and XMR suffered even steeper declines, with both falling by more than 8%.
Meanwhile, HYPE, which recently logged a new all-time high, dropped nearly 9%. Bitcoin cash was the only coin to post double-digit losses after it tumbled from $340 to $300.In contrast, a few altcoins bucked the market trend. XLM posted the most notable gains by far, jumping from $0.1468 to $0.1792 — an increase of more than 22% in 24 hours.
Traders attributed XLM’s market-beating performance to an announcement by The Depository Trust and Clearing Corp. (DTCC) and the Stellar Development Foundation of plans to enable the tokenization of Depository Trust Company-custodied assets on the Stellar network.
XLM proponents view the collaboration as a major win for Stellar, repositioning the token within the real-world assets and tokenized assets narrative. The other altcoin outperforming the market Thursday was RAIN, which continued its recent rally by climbing 8.5%, bringing its seven-day gains to nearly 90%.
Meanwhile, the broad altcoin retreat caused the aggregate altcoin market cap to drop to $1.05 trillion, dragging the total cryptocurrency market’s aggregate capitalization down to $2.58 trillion.