CandleFocus XRP market cap turn down as the price shrink 12% in a day
2024-12-05
Author: Content Editor
XRP, the popular cryptocurrency developed by Ripple Labs, has experienced a significant decrease in market capitalization, falling by 12% in just one day of trading. This comes after XRP enjoyed tremendous growth in November, becoming one of the top three cryptocurrencies alongside Bitcoin and Ethereum. However, the decline in market cap is primarily attributed to corrections in the token's price and a decrease in trading volume. As a result, Tether's USDT has overtaken XRP in market cap, reclaiming the third position. Some indicators suggest that XRP may experience a pullback, including the token's price being above its moving averages, overbought indicators, and a potential imbalance between demand and supply.
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