XRP pulls back from two-week high amid crypto slump

XRP pulls back from two-week high amid crypto slump

While XRP had a poor start to today’s session, falling to an intraday low of $0.413, it has managed to stop the bleeding in subsequent trading. At the time of writing, the XRP price was hovering around the level of its Thursday close, according to data from digital currency tracker Coinmarketcap.

XRP’s slump appears to be part of a larger pull-back that has affected most major digital currency. The downswing started developing on Thursday afternoon, after Bitcoin (BTC), the No. 1 digital coin, had spiked to over $9,000 for the first time in more than a year. Unable to sustain trading at those levels, BTC quickly pulled back, causing a ripple effect throughout the entire crypto market. Most major digital currencies, including Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), have seen big price drops after Bitcoin’s pull-back

In today’s trading, the XRP price stood at $0.422, as of 12:27 BST. The digital coin has lost 8.7% in the past 24 hours. Its total market capitalisation currently stands at $17.8 billion.

Featured image: Wit Olszewski / Shutterstock.com

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The post XRP pulls back from two-week high amid crypto slump appeared first on The Independent Republic.


source: https://theindependentrepublic.com/xrp-pulls-back-from-two-week-high-amid-crypto-slump/

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