XRP Price Drops Almost 2% Amidst Good News

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XRP Price Drops Almost 2% Amidst Good News

Last updated on May 18th, 2024 at 12:28 pm

XRP Price Drops Almost 2% – The general cryptocurrency market has been experiencing a negative shift in price today. The combined crypto market cap lost over 1.37% of its value. At press time, the global crypto market cap sits at $1.10 trillion according to data from CoinMarketCap.

In a similar trend, Ripple (XRP) has lost about 1.32% of its value in the last 24 hours. Regardless of this trend, XRP has remained pretty relevant in all of the product services that it is known to support.

XRP Ledger (XRPL) Celebrates Significant Achievement

Ripple’s (XRP) price plunge comes amidst good news rocking the XRP ecosystem. XRP Ledger, a decentralized, public blockchain celebrated a significant achievement on May 24 when it closed 80 million ledges in 10.5 years. XRP Ledger also utilizes XRP as its native token.

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This great achievement is a historic milestone and can be attributed to the growth potential and versatility of the XRP token. XRP has maintained its position as a high-flier, with a year-to-date performance that is far from the negative it is presently experiencing. The litigation between Ripple Labs Inc and the United States Securities and Exchange Commission (SEC) exemplifies this negativity.

The possible bullish trigger for XRP

Just like every cryptocurrency, for XRP to experience a bullish trigger, it will have to display a form of attraction to investors amid its several challenges including its tussle with the SEC.

Such attractions will be activated in XRP Ledger’s targeted capabilities, as well as other fundamental products that use the XRP coin as assets to fuel their operations. A significant decoupling action will also be required to lessen the link between XRP and Bitcoin. This decoupling will act as the ultimate catalyst that will be able to steer XRP’s growth track through several depressions.

XRP price today

According to live data from CoinMarketCap, the price of XRP today is $0.4525. It is down by 0.66% in the last 24 hours. Also, XRP is ranked #6 on CoinMarketCap’s chart with a live market cap of $23,465,591,718 USD.

XRP Price Drops Almost 2% Amidst Good News

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