• XRP/USD lost 7% in the recent 24 hours.
  • The coin is collapsing in sync with other altcoisn.

Cryptocurrency market is collapsing swiftly with XRP leading the decline. The third largest digital asset has lost 7% of its value in a matter of minutes and broke below critical $0.30. The coin touched $0.2930 low and recovered towards $0.2953 by the time of writing. However, the situation is very fluid and the price may change rapidly.  

While it is not clear what might have caused the decline, it is highly likely that the movement is caused by technical factors coupled with a shift of speculative sentiments. A failure to move above $0.33 handle allowed the bears to take up the control over the situation. 

Though, the sell-off is not an XRP-specific development. All major altcoins are deeply in red, nursing losses from 1.4% (Monero) to 10% (Binance Coin). Bitcoin is doing fairly well. The first digital asset stays at $5,460, down 1.5% since the beginning of the day. 

XRP/USD, 1-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin may extend the recovery once Gold resumes the rally

Bitcoin has been creeping higher towards $12,000, ETH struggles at $400, while some altcoins rush forward to new highs. Thus, Bitcoin Cash and Monero gained 10% in the recent 24 hours, while EOS increased by 6%. 

More Bitcoin News

XRP/USD daily bull flag awaiting confirmation to breakout above $0.346

XRP/USD is trading at $0.309 while daily EMAs remain far away from the price. The daily bull flag is the most important pattern for XRP in the short-term. XRP continues fighting to remain above $0.30 ...

More Ripple News

Grayscale wants to register its Ethereum-based trust with SEC

Grayscale Investments submitted an application with the US Securities and Exchange Commission to register its Ethereum-based Trust. The company emphasized that the filing is voluntary, however, the registration will entail additional compliance requirements.

More Ethereum News

How long can TRX/USD sustain this 6-months ascending channel?

Tron price action has continued to take down key barriers from the massive losses in March. Even though the recovery has been as rapid as witnessed in other altcoins, TRX/USD price action speaks slow and steady out loud.

More Tron News


Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast