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XRP's Significant Drop and Market Overview

Analyzing XRP's recent price movement and its impact on the cryptocurrency market.
Published on 2022-11-21

XRP Price Movement

XRP experienced a significant drop, trading at $0.35046, reflecting a 10.24% decrease. This marked the largest single-day percentage loss since November 9. The decline reduced XRP's market cap to $17.88827 billion, accounting for 2.23% of the total cryptocurrency market cap. Historically, XRP reached a market cap peak of $83.44071 billion.

Recent Trading Range

In the last 24 hours, XRP fluctuated between $0.35039 and $0.36200. Despite the recent drop, XRP showed a 7.13% increase over the past week, with a trading range from $0.3504 to $0.3966. The trading volume over the past 24 hours reached $1.28123 billion, representing 2.42% of the overall cryptocurrency trading volume.

Long-term Performance

At its current price, XRP remains significantly below its all-time high of $3.29, set on January 4, 2018, marking an 89.35% decrease from that peak.

Broader Cryptocurrency Market

In the broader cryptocurrency market, Bitcoin was priced at $15,998.5, down 4.10%, with a market cap of $311.11618 billion, making up 38.84% of the total market cap. Ethereum traded at $1,115.99, experiencing an 8.41% loss, with a market cap of $138.36584 billion, comprising 17.27% of the total market value.

Understanding these shifts provides insight into the current volatility and market trends affecting major cryptocurrencies, including XRP, Bitcoin, and Ethereum.

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