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Tough Week for Ripple’s XRP: 24H Volume Decline Is Dire as Price Slumps
Ripple Lab’s XRP has been experiencing a tumultuous period, with the token’s daily trading volume plummeting by an alarming 93% in December. This drastic decline is unprecedented and raises serious concerns about the asset’s future performance.
The current market conditions are dire for Ripple’s XRP. The once-hot cryptocurrency has seen its price slump, further exacerbating investor anxiety. As of Monday morning, XRP was down a staggering 7% for the week, with no signs of recovery in sight.
The latest decline can be attributed to a significant drop in daily trading volume. The $2.5 billion traded on Sunday evening is a stark contrast to the $37.5 billion seen at the start of December. This drastic change is unprecedented and raises concerns about the asset’s long-term viability.
It is essential to note that XRP has had a remarkable run, especially during November and December when it returned an impressive 247% return in comparison to other assets like Bitcoin (126%), Solana (75%), and Ethereum (49%). However, this sudden drop may indicate a need for caution.
Source: cryptopotato.com
