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XRP Experiences Significant One-Day Loss Amid Market Volatility

XRP faces a major downturn, impacting its market cap significantly, while Bitcoin and Ethereum also see declines.
Published on 2023-03-22

XRP Market Update

XRP, a prominent cryptocurrency, experienced a significant drop in value, trading at $0.42638. This marked a substantial one-day decline of 10.11%, the largest since November 2022. Consequently, XRP's market cap decreased to $21.793 billion, accounting for 1.89% of the overall cryptocurrency market. Historically, XRP's market cap had reached a peak of $83.44 billion.

Recent Trading Range

Over the last 24 hours, XRP traded between $0.42015 and $0.47470. Despite the recent downturn, XRP showed a notable increase of 17.73% over the past week. The cryptocurrency's trading volume reached $4.106 billion within the same period, representing 6.41% of the total cryptocurrency trading volume. In the last week, XRP fluctuated between $0.3566 and $0.4927.

Long-Term Performance

Currently priced at $0.42638, XRP remains significantly below its all-time high of $3.29, set in January 2018, reflecting an 87.04% decline.

Broader Cryptocurrency Market

The broader cryptocurrency market also witnessed declines. Bitcoin was reported at $27,534.3, experiencing a 2.03% decrease. Ethereum likewise saw a drop, trading at $1,749.52, a 2.25% loss. Bitcoin's market cap stood at $532.36 billion, representing 46.16% of the total market, while Ethereum's market cap reached $214.64 billion, comprising 18.61% of the market.

In summary, XRP's recent performance highlights the ongoing volatility in the cryptocurrency market, affecting major players like Bitcoin and Ethereum as well.

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