XRP Suddenly Colapses 14%. It Might Get Worse

XRP Plummets 14% Amidst Trade Tensions

Cover image via U.Today

According to CoinGecko, the price of XRP, the third-largest cryptocurrency by market capitalization, has witnessed a significant decline of approximately 14% in the past 24 hours.

The Ripple-affiliated cryptocurrency plunged to $2.58 earlier today, marking its lowest point since January 14th.

Analyst Timothy Sykes attributes the downtrend to the market being open during the weekend, exacerbating ongoing trade tensions. He anticipates a similar decline in leading US stock market indexes on Monday.

According to Sykes, the "trade tensions" pose a significant threat to businesses and the overall economy.

DonAlt, a well-known pseudonymous cryptocurrency trader, suggests the possibility of further sell-offs in the crypto market on Monday.

Bitcoin (BTC), the leading cryptocurrency, has declined by over 4%, outperforming other major currencies.

Dogecoin (DOGE) has emerged as the worst-performing asset among the top 10 cryptocurrencies, plummeting by nearly 15%.