With over $5.5bn in 24-hour trading volume, Ripple’s XRP remains one of the hottest commodities across all cryptocurrency markets. No one can deny they are paying attention to the XRP price, even if it’s just to gloat over how the “bank’s attempt to destroy cryptocurrency from within” is failing. Such claims are absolutely ridiculous, but it does reflect the overall sentiment among cryptocurrency enthusiasts right now. Everything is dropping in value and most people want to drag the XRP price with them.
Nearly 34% of the XRP trading volume originates from Bithumb, where the XRP price still holds the $1.20 support line. Upbit is in second place, and Bitfinex is the surprising third entrant on this list. Few people expected the XRP/USD trading market to generate over $420m in volume right now, but that is what makes this market so interesting. One should always expect the unexpected and make the best of the situation they are dealing with.
For now, it remains to be seen what will happen to the XRP price. As unfortunate as it may sound to some, it may not dip below $1 this round. That will heavily depend on how all other markets evolve in the coming days, though. With slightly more bearish pressure, we will see the Bitcoin price dip below $10,000 before XRP hits $1 or lower. It is not a fun scenario to think of, but this market is in a full-on panic mode right now.
Nearly 34% of the XRP trading volume originates from Bithumb, where the XRP price still holds the $1.20 support line. Upbit is in second place, and Bitfinex is the surprising third entrant on this list. Few people expected the XRP/USD trading market to generate over $420m in volume right now, but that is what makes this market so interesting. One should always expect the unexpected and make the best of the situation they are dealing with.
For now, it remains to be seen what will happen to the XRP price. As unfortunate as it may sound to some, it may not dip below $1 this round. That will heavily depend on how all other markets evolve in the coming days, though. With slightly more bearish pressure, we will see the Bitcoin price dip below $10,000 before XRP hits $1 or lower. It is not a fun scenario to think of, but this market is in a full-on panic mode right now.