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Cryptocurrencies rebounded this morning after sustaining heavy losses this week following the Federal Reserve's final meeting of the year on Wednesday. The meeting included a cut of 25 basis points in interest rates and more hawkish rhetoric from Fed chair Jerome Powell that seemed to catch investors off guard.
A US court of appeals has announced further dates for the XRP lawsuit, as per the notice of appeal filing in the district court. Notably, the opening brief will be filed on March 6 next year, whereas and Ripple Labs, XRP II and CEO Brad Garlinghouse will file their reply to the appellant's principal brief
XRP, the fourth largest cryptocurrency by market capitalization, plunged as much as 16% in today's trading session, as the broader crypto market decline accelerated on Friday.
Bitcoin's price correction dragged major altcoins with it with the global crypto market cap decreasing by 9.53%. Major Altcoins Follow BTC Dip Bitcoin‘s price correction extended into Friday, Dec. 20, as the number one crypto continued to shed its recent gains.
Ripple's XRP, the native token of Ripple Labs, is navigating a volatile market yet showing resilience against a major price decline. Despite a $220 million outflow from exchanges, XRP remains firmly above its crucial support level at $2.20.
Bitcoin, Ethereum, Solana, and XRP are down bad, but Dogecoin is the biggest loser by far in the top 10 coins with a 19% daily dump.
XRP saw a sharp decline on Friday, mirroring a volatile week for the cryptocurrency market, which experienced a notable 11.68% drop in total market capitalization, falling to $3.14 trillion over the past 24 hours. XRP alone relinquished nearly 20% of its recent gains in this timeframe.
Ripple's price was consolidating for the last few weeks, failing to create a new all-time high. This week was particularly eventful, though, as the asset first jumped above $2.7 before a market-wide crash took it south hard to just under $2.
XRP continues to navigate a turbulent market as broader crypto selloffs weigh heavily on major altcoins. Despite the volatility, XRP has managed to consolidate above the $2 mark throughout most of the month, holding firm amidst intense market liquidations.
In a recent market bloodbath that has triggered a massive collapse in the crypto market cap plunging it by almost 9% in a day, crypto critics didn't waste anything to criticize the digital asset.
The crypto market recorded volatile trading this week, following a robust rally over the past few months. Bitcoin (BTC) and top altcoins like Solana (SOL), XRP, Dogecoin (DOGE), and others have recorded significant gains this year.
Ripple whales have turned to buying the dip, purchasing 110 million XRP tokens worth $242 million.
On December 2, XRP's price climbed to a six-year high of $2.72, making it one of the altcoins that have outperformed Bitcoin (BTC) this quarter. This development also happened around the same time the XRP DEX volume jumped to $61 million, with speculation that the token could lead altcoin season.
In spite of the recent market volatility, XRP continues to exhibit underlying resilience. The asset is still in a favorable position in comparison to its pre-bull run state, even though it has lost some of its upward momentum.
Bitcoin (CRYPTO: BTC) on Friday plummeted approximately 10% to a preliminary low of $92,250, influenced by the Federal Reserve's recent “hawkish” 0.25% rate cut and a combination of profit-taking and technical market forces, according to industry experts. Ethereum (CRYPTO: ETH) has followed Bitcoin down, falling 16% to $3,115.
Ripple's XRP is under pressure, slipping over 2% as it struggles to maintain stability. With its price hovering between $2.20 and $2.70, the cryptocurrency remains confined to a tight trading range.
Crypto market freefall causes Ripple withdrawal delays on Bithumb. One of the major cryptocurrency exchanges in South Korea, Bithumb, has formally announced that withdrawals of XRP are taking longer than planned because of an unexpected spike in transaction volume.
XRP took a sharp nosedive, slipping below the crucial $2 mark and sending shockwaves through the crypto community.
XRP maintains steady price action above $2.20 with technical indicators suggesting potential upward movement, while key resistance levels at $2.42 and $2.92 remain in focus.
Cryptocurrency analysts of Coinidol.com report, Ripple (XRP) price is moving sideways, above the moving average lines but below the $2.80 resistance.
The cryptocurrency market is on a tear this year. The total value of all tokens and coins in circulation recently hit an all-time high of $3.8 trillion, marking a significant gain from its bear market low point of $823 billion in 2022.
An analyst has pointed out how XRP and Solana are among the altcoins that have just observed a Tom Demark (TD) Sequential buy signal on their 4-hour prices. Four Altcoins Are Seeing A Buy Signal On The TD Sequential In a new post on X, analyst Ali Martinez has talked about the TD Sequential signal that four different altcoins have seen on their 4-hour charts.
XRP maintains bullish market structure above $2.30 despite recent volatility, with technical indicators and upcoming market events supporting potential moves toward higher price targets at $2.62 and $3.28.
Ripples XRP dropped to $2.28 today, reflecting market volatility. Despite this, analysts remain optimistic about a rally toward $3, citing the liquidity boost expected from RLUSD and crucial support levels at $2.17.
