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COINTURK NEWS > Ripple (XRP) > XRP, Notable for its Rises, is Falling Again: Loss Approaching Double-Digits!
Ripple (XRP)

XRP, Notable for its Rises, is Falling Again: Loss Approaching Double-Digits!

In Brief

  • XRP, which experienced a strong rise in mid-July, has turned its direction downwards again since last week. With the market also entering a downturn, XRP has gained momentum in downward price movements, recording a loss of nearly 10% in the past week, falling from $0.77 to $0.71.ContentsHas the Trend in XRP Reversed?Value Loss Approaching Double […]
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COINTURK NEWS 2 years ago
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XRP, which experienced a strong rise in mid-July, has turned its direction downwards again since last week. With the market also entering a downturn, XRP has gained momentum in downward price movements, recording a loss of nearly 10% in the past week, falling from $0.77 to $0.71.

Contents
Has the Trend in XRP Reversed?Value Loss Approaching Double Digits

Has the Trend in XRP Reversed?

Following the decision on the Ripple case, XRP, which gained strong upward momentum in mid-July, started to decline again last week and caused further losses due to the market turning downwards. After Bitcoin, the leading cryptocurrency, fell below the $30,000 price level following the declines it recorded at the beginning of the week, most altcoins in the cryptocurrency market experienced significant losses during the week.

With the downward trend in the market, Ethereum (ETH), which has gained downward momentum in recent weeks, has declined to $1870 along with the losses it has recorded since the beginning of the week. The total market value of the cryptocurrency ecosystem has also dropped to $1.18 trillion.

With the market entering a downturn again, the upward trend that started in mid-July in XRP has reversed to some extent. XRP has recorded a loss of nearly 10% in the past week.

Value Loss Approaching Double Digits

After the Ripple case decision on July 13, XRP quickly rose from $0.47 to $0.8 within hours, gaining strong upward momentum during this period. The cryptocurrency market also turned upwards again as BTC failed to reach $31,500.

However, BTC falling below $30,000 again caused a new downturn in the market. XRP has gained downward momentum again since last week. With a loss of nearly 10% in the past week, XRP started trading at $0.71, recording low losses of around 0.5% during the day.

After its recent losses, XRP also became one of the cryptocurrencies with the highest percentage loss among high market cap cryptocurrencies in the past week.

Disclaimer: This article does not contain any investment advice. Investors should be aware that cryptocurrencies are risky due to their high volatility and should conduct their transactions based on their own research.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 28 July, 2023 - 7:16 pm 28 July, 2023 - 7:16 pm
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