XRP Price Crashes 20%, Reversing Huge Market Rally

The price of XRP, the third largest cryptocurrency by market capitalization, fell 18.64% today, according to data from CoinMarketCap.

After hitting a daily high of $ 0.71 at 15:19 UTC, the price of XRP fell sharply from $ 0.66 to lows of $ 0.59 around 8:00 p.m. The current price for XRP is $ 0.62 and its market cap is $ 28 billion.

However, the decline follows a major market rally; XRP is still up 112% over the past week. XRP started rising last Friday. Then its price was only $ 0.31.

XRP is far from the only coin crashing today. Bitcoin, the largest cryptocurrency by market capitalization, fell 1.68% today to $ 18,832 – Bitcoin continues to slide from its all-time high of ~ $ 20,000 in its slump. Ethereum, the second largest coin by market cap, fell 4.58% to $ 580.

Other top coins also fell: Bitcoin Cash fell 5.74%; Chain link by 7.8%; Litecoin fell 7.1% and Cardano 5.53%.

The decline in the US stock markets goes hand in hand with the decline. The S&P 500 fell from its all-time high and the Dow Jones retreated below 30,000 basis points.

However, all of the top coins are available for the week and surpass their previous pre-bull run selves. Bitcoin, which was worth $ 10,500 early last month, is still a long way off. far above it at $ 18,832.

Disclaimer of liability

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.