XRP Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
XRP (CRYPTO: XRP) has seen a price decline of 3.89% in the last 24 hours, reaching $0.60, with a continued downward trend over the past week from $0.62. The trading volume has increased by 28.0%, and the circulating supply has risen by 0.22% to over 53.82 billion, representing 53.82% of the maximum supply. XRP's market cap is currently ranked #5 at $32.31 billion.
November 27, 2023 | 3:00 pm
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XRP has experienced a 3.89% price drop over the last 24 hours and a 3.0% decrease over the past week, with a current price of $0.60. The increase in trading volume and circulating supply may indicate heightened investor activity and potential supply pressure.
The price of XRP has been declining, which typically indicates bearish sentiment in the short term. The increased trading volume could be a result of investors selling off their holdings, contributing to the downward pressure on price. The rise in circulating supply could further dilute the value of each coin, potentially exacerbating the price drop. However, the market cap ranking shows XRP is still a major player in the cryptocurrency space, which may buffer extreme volatility.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100