RATE Group | Why XRP Isn’t Surging in Tandem With Rest of the Cryptocurrency Market
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Why XRP Isn’t Surging in Tandem With Rest of the Cryptocurrency Market

23 Dec Why XRP Isn’t Surging in Tandem With Rest of the Cryptocurrency Market

Posted at 17:36h in Cryptocurrency News by

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XRP was not among the gainers as the cryptocurrency market attracted capital of up to $12 billion in a day.

The Ripple blockchain’s native asset slumped by up to 2.19 percent on Monday to establish an intraday low of $0.194. The downside move negated XRP’s gains – registered during the Sunday trading session – by 1.38 percent. At the same time, it pushed the cryptocurrency’s 24-hour adjusted performance down by 0.77 percent.

ripple, xrp, crypocurrency

Ripple’s XRP token correcting lower after spending Sunday in a positive area | Source: TradingView.com, BitStamp

In contrast, other top coins were faring better. Bitcoin, the leading cryptocurrency, was up by 5.41 percent on a 24-hour adjusted timeframe as of 1300 UTC. The second-largest Ethereum was similarly trading 2.86 percent higher, showing little-to-no signs of upside exhaustion.

That XRP FUD

The intraday losses in XRP closely follow Ripple’s announcement of raising $200 million in a Series C funding round. The San Francisco firm, which offers…

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