XRP Decreases More Than 13% Within 24 hours
Portfolio Pulse from Benzinga Insights
XRP (CRYPTO: XRP) experienced a significant decrease of 13.16% in the last 24 hours, dropping to $0.53. This decline is part of a broader downward trend over the past week, with a total decrease of 3.0% from $0.59. The trading volume for XRP has fallen by 2.0% over the past week, while its circulating supply has increased by 1.31% to over 55.05 billion, representing 55.05% of its maximum supply. Currently, XRP's market cap is ranked #8 at $29.12 billion.
April 12, 2024 | 7:00 pm
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NEGATIVE IMPACT
XRP's price has fallen by 13.16% in the last 24 hours, marking a significant decrease to $0.53. This is part of a larger downward trend over the past week. The decrease in trading volume and increase in circulating supply could indicate a bearish outlook for the short term.
The significant price drop of XRP, coupled with a decrease in trading volume and an increase in circulating supply, suggests a bearish sentiment among investors. The decrease in price and trading volume indicates reduced investor interest or selling pressure, while the increase in circulating supply could dilute the value of each coin. These factors combined suggest a negative short-term impact on XRP's price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100