The crypto assets market once again staged a dramatic performance. XRP suddenly surged to a high of $3.66 in a short time, after which long positions collectively took profits, triggering a fierce wave of dumping. From a big pump of 60% to $2.17, XRP seemed to transform into an out-of-control roller coaster, embarking on a dazzling downward journey.

On July 23, XRP experienced a drop of over 10%, falling to $3.04, and the downward trend seems to be continuing. This drastic price fluctuation caught many traders off guard.

What is even more concerning is that the entire altcoin market is beginning to show signs of weakness. The CMC Altcoin Index is only at 37, which is still quite a distance from the 75 that is considered a bull market signal. With Bitcoin dominating the market, altcoins seem to be losing attention.

XRP once made investors yearn to break through the historical high of $3.84, but with the rapid price decline, traders' psychological defenses have collapsed. This once again confirms the common rule in the Crypto Assets market that 'what goes up must come down.'

Currently, XRP seems to be in a dilemma: either continue to adjust or prepare to impact the next psychological price level. Either way, this extreme market volatility once again reminds investors that the Crypto Assets market is fraught with both risks and opportunities, requiring cautious handling.