According to CoinMeta, XRP has seen a significant drop today, with a weekly decline of 18%, and its current price has fallen below $1, mainly due to the substantial declines in Bitcoin and Ethereum. According to CoinMeta data, in the past 24 hours, approximately $27 million worth of XRP derivative positions were liquidated, with long positions accounting for about 97% of that amount. In addition, reports on Coinbase Institutional indicate that the total supply of USDT, USDC, and DAI has decreased by $11.5 billion over 30 days, which may have reduced liquidity in the crypto market. Despite the decline in the price of XRP, its banking expansion continues.