XRP Falls More Than 7% In 24 hours
Portfolio Pulse from Benzinga Insights
XRP (CRYPTO: XRP) has experienced a 7.47% price drop over the past 24 hours, continuing a weekly decline of 2.0%. The trading volume for XRP has increased by 12.0% over the past week, and its circulating supply has risen by 0.22% to 53.96 billion coins, representing approximately 53.96% of its maximum supply. XRP currently ranks #5 in market cap at $32.94 billion.
December 11, 2023 | 7:00 pm
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NEGATIVE IMPACT
XRP has seen a significant price decrease of 7.47% in the last 24 hours and a 2% decrease over the past week, with an increase in trading volume and circulating supply.
The price drop of 7.47% in 24 hours, coupled with a weekly decline, indicates a bearish short-term sentiment for XRP. The increase in trading volume suggests higher interest, but it may also reflect selling pressure. The rise in circulating supply could dilute the value of each coin. Given these factors, the short-term impact is likely negative.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100