XRP’s 20% Drop is Just the Beginning, Lower Lows Might Come Soon. At the time of writing, the price of Ripple XRP was $0.249606. It is down by 4.72% against the USD and down by 0.30% against Bitcoin BTC.
The trading volume over the last 24 hours was $2,126,471,564 and the market capitalization was $11,235,066,078. The token is falling in line with Bitcoin BTC and Ethereum ETH. Over the last two days, Bitcoin BTC has fallen significantly and is now trading at $10,312.47. It is down by 4.22% against the USD with a trading volume of $33,415,272,081 and a market capitalization of $190,569,326,704. At the same time, Ethereum ETH has taken a hit. It is trading at $378.54.
It is down by 6.64% against the USD and down by 2.47% against Bitcoin BTC. The trading volume over a 24 hour period was $18,752,460,766 and the market capitalization was $42,572,564,680.
The fall in the price of XRP is sad since it happened almost right after the token gained more than 100% year-to-date. Analysts have said that the 20% fall in price is just the beginning and the token is primed to fall even lower soon. If XRP falls by 90% from its current level, it will test the $0.13 level or even lower. This will be a far cry from the tokens all-time high of over $3.50.
The good news is that everything is possible in the cryptocurrency market. So, irrespective of what is happening now, there is still a strong chance that it will recover eventually. Hopefully, things will get better for Bitcoin and it will rub off on the rest of the market. The next few trading sessions will show us if there is going to be an improvement in the price of XRP.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Ripple XRP Falls by More Than 20% Against the USD in the Last Few Days
- The Token Will Fall Lower Against the USD if the Bulls Don’t Gather Momentum Soon
If you’ve been paying attention to the cryptocurrency market over the last few weeks, then you will know that there has been a bloodbath. All cryptocurrencies have been falling against the USD as the bearish pressure intensified. As usual, XRP was one of the worst-performing tokens.
It has dropped by more than 20% in the last few days and the intensity of the drop is increasing.
This decline in the price of XRP and other tokens cost the cryptocurrency global market capitalization more than $50 billion. Major Ripple XRP analysts have said that the token may have fallen by more than 30% but buyers should expect a more significant fall that might take it down by around 80% to 90%.
