XRP Price Action Stutters as Trading Volumes Plunge Over 40%

Driven by a resurgence of optimism, XRP seemed poised to reach new heights. However, within just a few sessions, the momentum abruptly broke.

After a strong rally that stalled, XRP now seems to be struggling to maintain its momentum. Indeed, following a peak at $2.65 on Saturday, the price of the Ripple crypto has dropped 3.43 % in 24 hours to $2.36.

As the crypto market slips back into red territory on Monday, several signs suggest that the bulls’ strength may be waning after a period of rapid gains.

Indeed, the total crypto market cap has dropped to $3.27 trillion, wiping out recent gains after reaching a weekly high.

Several key factors highlight the loss of momentum in XRP :

* XRP’s trading volumes have dropped more than 40 % in 24 hours, falling to $3.23 billion.

* This sudden contraction in liquidity comes as XRP sees its fourth consecutive day of decline.

* The crypto is currently down 3.43 % for the day.

* This pullback comes amid a retreat in the crypto market, affected by global economic uncertainties.

As the crypto market slips back into red territory on Monday, several signs suggest that the bulls’ strength may be waning after a period of rapid gains.

Indeed, the total crypto market cap has dropped to $3.27 trillion, wiping out recent gains after reaching a weekly high.

Several key factors highlight the loss of momentum in XRP :

* XRP’s trading volumes have dropped more than 40 % in 24 hours, falling to $3.23 billion.

* This sudden contraction in liquidity comes as XRP sees its fourth consecutive day of decline.

* The crypto is currently down 3.43 % for the day.

* This pullback occurs amid a retreat in the crypto market, affected by global economic uncertainties.

Several key factors have affected the crypto market on Monday:

* U.S. President Biden announced new measures to help small businesses cope with rising food and energy prices due to the war in Ukraine.

* A top European Central Bank official said on Monday that the bank could raise interest rates by a quarter of a percentage point at its July meeting.

* The Australian dollar rose on Monday after the country’s central bank left interest rates unchanged at 3.85 % and signaled that no more increases were needed to tame inflation.

These developments suggest that the macroeconomic environment remains fragile and could exert pressure on crypto prices in the coming sessions.

However, despite these challenges, the crypto market is known for its resilience and ability to adapt to changing conditions. As the dust settles on this technical pullback, it will be interesting to observe how the crypto market reacts and sets the stage for the next phase of the cycle.

As the crypto market slips back into red territory on Monday, several signs suggest that the bulls’ strength may be waning after a period of rapid gains.

Indeed, the total crypto market cap has dropped to $3.27 trillion, erasing recent gains after reaching a weekly high.

Several key factors have affected the crypto market on Monday:

* U.S. President Biden announced new measures to help small businesses cope with rising food and energy prices due to the war in Ukraine.

* A top European Central Bank official said on Monday that the bank could raise interest rates by a quarter of a percentage point at its July meeting.

* The Australian dollar rose on Monday after the country’s central bank left interest rates unchanged at 3.85 % and signaled that no more increases were needed to tame inflation.

These developments suggest that the macroeconomic environment remains fragile and could exert pressure on crypto prices in the coming sessions.

However, despite these challenges, the crypto market is known for its resilience and ability to adapt to changing conditions. As the dust settles on this technical pullback, it will be interesting to observe how the crypto market reacts and sets the stage for the next phase of the cycle.