XRP drops to multiweek low as XLM surges after DTCC deal

XRP briefly fell to a multiweek low of $1.265 on May 28 amid a broader cryptocurrency sell-off that reduced total market capitalization to about $2.58 trillion. The token later stabilized near $1.29, a 3.2% decline over 24 hours and roughly a 6% drop over seven days. XRP’s market capitalization slipped below $80 billion.

Bitcoin also retreated to multiweek lows during the session, contributing to downward pressure on large-cap altcoins.

Stellar’s XLM rose from about $0.1468 to $0.1792 in 24 hours, an increase of roughly 22%. The gain followed an announcement by the Depository Trust and Clearing Corp. and the Stellar Development Foundation outlining plans to enable tokenization of assets custodied at the Depository Trust Company on the Stellar network. Market participants attributed XLM’s gains to the tokenization announcement.

Other tokens recorded mixed results. RAIN climbed 8.5% on the day, extending a seven-day advance near 90%. Privacy-focused coins Zcash and Monero each fell more than 8%. HYPE declined about 9%. Bitcoin Cash dropped from about $340 to $300, a double-digit loss.

Aggregate altcoin capitalization fell to about $1.05 trillion as some positions were exited and flows concentrated in a small group of tokens tied to tokenization narratives. The total cryptocurrency market’s capitalization was down to roughly $2.58 trillion during the sell-off.

XRP’s price has been volatile so far in 2026. The token rose to roughly $2.40 at the start of the year, fell to about $1.22 by Feb. 6 and has mostly traded between $1.30 and $1.60 since. XRP remains below its 2025 all-time high of $3.66. At the time of the rout, XRP’s year-to-date gain stood near 30%.

The DTCC and Stellar announcement describes a plan to use the Stellar network for tokenizing and managing assets custodied by the Depository Trust Company.

Previously, we reported that DTCC will integrate Chainlink to automate global collateral workflows.