XRP Falls More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
XRP (CRYPTO: XRP) has seen a 3.82% decrease in price over the last 24 hours, continuing a negative trend from the past week with a 1.0% loss. The trading volume for XRP has increased by 76.0%, and the circulating supply has risen by 0.23% to 54.37 billion, which is over half of its maximum supply. XRP's market cap is currently ranked #6 at $27.35 billion.
January 31, 2024 | 3:00 pm
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NEGATIVE IMPACT
XRP has experienced a 3.82% price drop in the last 24 hours and a 1.0% decrease over the past week. The increase in trading volume and circulating supply may indicate heightened activity but has not prevented the price decline.
The price of XRP has been declining, which is a bearish signal for investors. Despite the increase in trading volume, which sometimes can precede a price reversal, the continued downward trend and the increase in circulating supply, which can dilute the value, suggest that the price may continue to fall in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100