$XRP
🚨 Why Is XRP Price Down Today? Selloff Amid Broader Crypto Volatility 🚨
While Ripple expands its institutional partnerships, its associated cryptocurrency XRP has experienced price volatility. XRP is currently trading at $2.29, down nearly 5% over the past 24 hours amid broader cryptocurrency market turbulence.
XRP is one of the biggest losers among the major cryptocurrencies today. Source: CoinMarketCap.com
XRP is one of the biggest losers among the major cryptocurrencies today. Source: CoinMarketCap.com
The weekend saw significant price swings across major cryptocurrencies, with Bitcoin (BTC) briefly surging past $106,000 before retreating to around $103,000. This volatility triggered over $670 million in liquidations across crypto derivatives markets, affecting positions in major cryptocurrencies including XRP.
The market turbulence comes amid macroeconomic uncertainty, including Moody's recent downgrade of the U.S. credit rating and rising concerns about inflation. U.S. 30-year treasury yields have breached the 5% mark, contributing to market anxiety.