The trillion-dollar cryptocurrency market experienced another significant downturn, witnessing a decrease of over 6% in just 24 hours.

Notably, some of the largest players in the crypto space, including Bitcoin (BTC) and Ethereum (ETH), saw their prices plunge to new lows, with BTC dropping below $26,500 and ETH below $1,700.

However, the spotlight was on Ripple’s XRP and Litecoin (LTC), which suffered substantial double-digit losses during this latest market correction.

Both XRP and LTC have remained in the headlines since July, each making waves with significant events. Litecoin’s highly anticipated halving event and XRP’s recent legal victory against the SEC garnered considerable attention.

Despite their recent prominence, these two cryptocurrencies have experienced the most significant losses in the last 24 hours.

On August 17, XRP hit a four-month low of $0.4226, marking it as the second-largest loser of the day, with a staggering decline of more than 17.30%.

Similarly, Litecoin reached a nine-month low of $61.76, experiencing a decline of over 15% within the same 24-hour period.

The trend of decline is projected to persist in the coming days, as both XRP and LTC exhibit clear bearish momentum.

As of the time of writing, XRP’s trading price has fallen to $0.4918, reflecting a decline of over 17% within the past 24 hours. Remarkably, XRP’s trading volume has witnessed a significant surge of 71.18%.

Concurrently, Litecoin is trading at $64.14, having faced a decline of over 15% in the last 24 hours. Notably, LTC’s daily trading volume has also increased by 25.97%, as reported by CoinMarketCap.