As traders navigate an uncertain worldwide financial landscape, Ripple’s XRP Ripple (XRP) crypto token isn’t immune to the shockwaves reverberating through the cryptocurrency markets. The price of XRP Ripple (XRP) has it’s worth noting that slipped below the critical level of support of $0.45, causing a stir between traders and investors. This whole lot of fall can largely be attributed to the present bearish sentiment surrounding potential interest price hikes and the looming United States debt ceiling crisis, which have started affecting the crypto altcoin market significantly, and thus, the XRP Ripple (XRP) price.
XRP Ripple (XRP) Outshines On the other hand, Fails To Hold Momentum
In an unexpected twist, XRP Ripple (XRP), Ripple’s native digital coin, has ascended past Bitcoin (BTC) to become the most traded investment on South Korea’s largest digital currency exchanges, Upbit and Bithumb, in terms of trading volume.
Remarkably, for two days running, XRP Ripple (XRP), as of now ranked as the sixth- largest digital currency by market cap, has managed to steal the limelight from Bitcoin (BTC) in volume of trading. This event signifies the burgeoning popularity of XRP Ripple (XRP) amongst Korean investors, potentially indicating a shift in the overall cryptocurrency market dynamics.
As it stands, XRP Ripple (XRP) holds the top spot as the digital currency with the highest volume of daily trading. It chalked up approximately $208 Million on Upbit and $50 Million on Bithumb in volume of daily trading. On the other side , Bitcoin (BTC) saw a volume of trading of $96 Million on Upbit and $27 Million on Bithumb in the previous 24 hours.
XRP’s ascent to prominence can be credited to numerous variables. Central to this has been Ripple’s tactful collaborations with prominent Korean financial entities, including GME, South Korea’s preeminent remittance service company, and leading exchanges.
Furthermore, the anticipation of the SEC failing to uphold pivotal arguments has further buoyed this optimism. If this expectation materializes, it can potentially potentially catalyze a surge in XRP’s price, propelling it to unprecedented levels.
XRP Ripple (XRP) Steeply Declines From $0.45
This coming week started off on a promising note for XRP Ripple (XRP), with the digital investment trading comfortably over $0.45. Nonetheless, bearish sentiment trapped bulls, plunging the price below 23.6 percent Fib level. As of writing, XRP Ripple (XRP) price trades at $0.4491, declining over 2.5 percent in the last 24 hours.