Earlier this Tuesday, the Ripple-affiliated XRP token plunged under the $2 mark for the time since Dec. 1.
The controversial cryptocurrency reached an intraday low of $1.94, in accordance with CoinGecko information.
Simply over the previous 24 hours, XRP has plunged by roughly 15%. This makes it one of many worst-performing tokens within the prime 100 alongside Stellar (XLM), Polkadot (DOT), EOS, and several other meme cash comparable to Floki (FLOKI), Bonk (BONK), and dogwifhat (WIF).
Regardless of the numerous value correction, pseudonymous dealer DonAlt, who famously predicted the dizzying rally that came about over the previous month, believes that XRP may proceed dominating the discourse if the broader crypto bull market continues.
He has additionally opined that all the XRP ecosystem is severely underpriced in comparison with different tokens.
“Yeah, if the bull market sustains lengthy sufficient for XRP to launch one thing really helpful I believe it would be one of many best-performing issues this cycle,” the dealer stated.
Earlier right now, Weiss Crypto, a supplier of unbiased scores for shares and cryptocurrencies, famous that XRP’s huge rally was a warning signal for the cryptocurrency market. This coincided with surging leverage – from skyrocketing stablecoin borrowing charges to excessive funding charges on crypto swaps. Basic crimson flags,” the agency stated.
In accordance with information offered by CryptoQuant, greater than 2.6 billion XRP tokens had been just lately moved to exchanges. That is the very best variety of XRP tokens deposited since April.