XRP does not seem to be showing a strong position in the market. Since Ethereum (ETH) was able to surpass it a few weeks ago, XRP remained weak and now it fell more than 2% in the last 24 hours.
XRP Falls Over 2% In 24 Hours
The cryptocurrency market has become very competitive. Different projects aim at offering solutions to different issues and at offering better services for financial institutions and their customers around the world. One of the digital assets that have been growing and expanding is XRP.
During the last weeks, XRP has been traded in a tight range between $0.3 and $0.33. Nonetheless, in the near future, the digital asset could fall under $0.3 for the first time in months. A few months ago, XRP was able to surpass Ethereum as the second largest digital asset, but XRP couldn’t claim this position in the market for a long period of time.
Although the long term seems bright for XRP and other virtual currencies, it seems that in a short period of time, XRP could fall under the key level of $0.30, according to data provided by CoinMarketCap.
During the last hours, different virtual currencies started to fall in the space. That includes Bitcoin (BTC), Ethereum and XRP. The third largest cryptocurrency has fallen 2.16% in the last 24 hours. This is the largest drop among the top 5 virtual currencies. Ethereum is currently falling 2.17% followed by Bitcoin with a drop of 1.39%.
At the time of writing, XRP is being traded around $0.302 and it has a market capitalization of $12.6 billion. It is worth mentioning that it is not possible to claim that this drop is XRP’s own fault. Several digital currencies are falling and losing similar or more percentage points.
If XRP wants to reach the second position once again, it will have to register a large price increase in the near future.