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XRP Collapses Below $2 as Santa Claus Rally Fizzles
Ripple’s flagship token, XRP, has experienced a precipitous drop in value over the past 24 hours, plummeting below $2 for the first time since September. The sudden and drastic decline has raised concerns among investors and analysts alike.
The cryptocurrency market was expected to experience a typical Santa Claus rally, with many anticipating a bullish trend throughout December. However, the unexpected downturn has left many scratching their heads as to what might be driving this trend reversal.
The latest data suggests that XRP’s value has plummeted by over 15% in just one day, with some investors citing concerns about regulatory issues and increasing competition from other decentralized finance (DeFi) platforms.
Source: u.today
