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XRP Experiences Significant Market Decline

XRP's recent market performance shows notable decline, impacting its market cap and trading volume.
Published on 2024-12-09

XRP Market Performance

XRP experienced a substantial decline, trading at $2.3258, marking a 10.36% decrease. This represents its largest one-day percentage loss since December 9. The drop significantly impacted XRP's market cap, which fell to $134.6208 billion, making up 3.85% of the total cryptocurrency market cap. At its peak, XRP's market cap was $155.2807 billion.

Trading Range and Volume

In the last 24 hours, XRP traded within a range of $2.3258 to $2.6045. Over the past week, XRP's value decreased by 14.14%, with a trading volume of $13.2624 billion, contributing to 5.55% of the total cryptocurrency market volume. The weekly trading range was between $2.1772 and $2.8928.

Current Price and Historical Context

Currently priced at $2.3258, XRP remains 29.31% below its all-time high of $3.29, achieved on January 4, 2018. This historical context provides insight into the ongoing volatility and challenges faced by XRP in the cryptocurrency market.

Broader Cryptocurrency Market

The broader cryptocurrency market also experienced declines. Bitcoin was recently valued at $96,620.8, reflecting a 3.19% decrease. Ethereum traded at $3,754.63, down 5.93%. Bitcoin's market cap stands at $1,914.7748 billion, accounting for 54.72% of the total cryptocurrency market cap, while Ethereum's market cap is $454.9403 billion, representing 13.00% of the market value.

These fluctuations underline the current instability in the cryptocurrency market, with major players like Bitcoin and Ethereum also facing downward trends.

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