Ripple: XRP Falls Faster than Gravity
Ripple's token continues its losses and has fallen below $1.75, down 18 percent overnight, amid weak risk appetite.
Live XRP/USD Chart
Ripple’s token continues to lose value and has fallen below $1.75, down 18 percent overnight, amid weak risk appetite.
President Donald Trump of the United States doubled down on tariffs, emphasizing that America must address the trade deficit before reaching an agreement.
The Sunday sell-off was triggered by the implementation of baseline US tariffs, which have heightened concerns about a global recession. The token has corrected 10 percent in the past day, bringing the total seven-day decline to 10 percent. It is trading at $1.75 in the late Asian session on Monday.
Trump’s reciprocal tariffs on April 2 have intensified selling pressure on XRP. The president told reporters over the weekend that tariffs will remain in place until the US resolves the apparent trade deficit.
Bitcoin and Ethereum corrected to trade at $76,400 and $1,535 on Monday, respectively, as global markets, including stocks and cryptocurrency, fell further into the red on Sunday.
In the meantime, XRP whales are increasing their holdings and purchasing discounted tokens rather than panicking.
According to Santiment’s data, the percentage of coins held by addresses with 100,000 to 1 million tokens has significantly increased, rising from 5.189 to 5.267 of the total supply. The proportion of investors holding between 10 and 100 million XRP has also grown, rising from 3.046 to 3.406 percent of the total supply.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals