news 
Why Did Ripple’s (XRP) Price Crash by 18% in 36 Hours?
Ripple’s cryptocurrency, XRP, has recently experienced a dramatic price drop of 18% within a mere 36 hours. The sudden and significant crash has left investors scrambling for answers as to what could have caused such a drastic change.
At first glance, it may seem like a market-wide correction is the only explanation for this massive decline. However, there are several other factors that should be considered in order to fully understand the situation.
Firstly, XRP’s price surge earlier this week was met with great enthusiasm by investors and the general public alike. The sudden jump in value can be attributed to the company’s announcement of its long-awaited stablecoin, which was set to launch on December 17th. Many market participants expected a significant increase in value due to the potential implications for the cryptocurrency’s adoption and mainstream appeal.
In fact, XRP did continue to rise throughout Monday evening and into Tuesday morning, eventually reaching a multi-week peak of $2.73 on certain exchanges. However, the asset failed to maintain its upward momentum despite numerous bullish price predictions made by experts in the space.
On the other hand, Ripple’s cross-border token started to retrace its gains earlier today before plummeting even further following the Federal Reserve’s latest rate cut, which led to a market-wide correction and pushed XRP to a six-day low of $2.23.
While it is possible that the price drop could be attributed solely to the overall crypto market downturn, Ripple’s retracement appears more severe than average, dropping by 11% in a mere 24 hours and a staggering 18% over the course of 36 hours.
Source: cryptopotato.com
