XRP Decreases More Than 9% Within 24 hours
Portfolio Pulse from Benzinga Insights
XRP (CRYPTO: XRP) has seen a significant decline, dropping 9.7% in 24 hours to $0.56, continuing a negative trend with a 10% loss over the past week. The volatility has increased, as indicated by the widening Bollinger Bands. Trading volume has surged by 66%, despite a slight decrease in circulating supply to 54.13 billion, which is 54.13% of the max supply. XRP's market cap is currently ranked #6 at $30.75 billion.
January 03, 2024 | 3:01 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
XRP has experienced a significant price drop of 9.7% in the last 24 hours, with increased volatility and trading volume. The market cap remains strong at $30.75 billion, ranking 6th.
The sharp decline in XRP's price, along with the increase in trading volume, suggests a bearish sentiment among investors. The decrease in circulating supply could indicate a potential for future scarcity, possibly providing some support to the price. However, the short-term impact is negative due to the significant price drop and increased volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100