There are 2 fundamental reasons that XRP tanked so precipitously.

1. A barrage of coordinated .GOV / Media FUD aimed at the crypto world to deflate the market cap of cryptos and prop their FIAT game up a bit longer.
2. The enterprise software system that is the main product of the Ripple Corpse is not revolutionary nor is it distributed. And to top it all off the XRP token is not necessary to run the software by a TBTF Bank plus their are cheaper message protocals that are cheaper to run on the system.

Speculate all you want on this centralized-prop-up-the-matrix bankster coin, but remember that XRP ultimately has no real value in the future of distributed ledger open-source honorable sharing co-creating blockchain future.