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XRP Experiences Significant One-Day Loss Amidst Recent Gains

XRP suffers a notable daily loss despite a week of significant gains, as Bitcoin and Ethereum show growth in the cryptocurrency market.
Published on 2024-12-04

XRP Market Overview

XRP experienced a significant decline, trading at $2.3584, marking a 10.15% drop. This was the largest one-day percentage loss since mid-April. Consequently, its market cap decreased to $135.9298 billion, representing 3.78% of the total cryptocurrency market.

Recent Trading Patterns

In the past 24 hours, XRP traded within a range of $2.3275 to $2.6745. Despite the recent downturn, XRP had increased by 59.4% over the past week, with trading volumes reaching $21.6876 billion, accounting for 7.74% of the total cryptocurrency volume. Throughout the week, XRP fluctuated between $1.4325 and $2.8928.

Historical Context

At its current price, XRP remains 28.32% below its all-time high of $3.29, which was recorded in early January 2018.

Broader Cryptocurrency Market

In contrast, Bitcoin showed a positive trend, rising by 3.24% to reach $98,734.7. Ethereum also saw significant gains, trading at $3,862.09, marking a 7.05% increase. Bitcoin's market cap constituted 54.41% of the total cryptocurrency market, while Ethereum's market cap accounted for 12.99%.

Overall, while XRP faced a notable setback, the broader cryptocurrency market displayed resilience, with major players like Bitcoin and Ethereum continuing to exhibit growth. These dynamics highlight the volatile nature of cryptocurrency investments and the varying performance of different digital assets.

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