The biggest drop it experienced recently was on July 4, when it fell by 7.29%. The world’s sixth-biggest crypto by market capitalization has been trending sideways over the past five days. XRP Price Analysis – XRP is Trending Sideways Poloniex Customer Support July 10, 2023 During this time, the site will be offline and trading will be suspended. We expect the maintenance to take around 2 hours. We began planned maintenance at 07:00 UTC. But it is still speculation at this point. There is a possibility that the minor glitch might be due to the after-effects of the said maintenance. However, it could be due to the planned maintenance that Poloniex had planned earlier. It was attributed to a glitch back then, which is likely the case here as well, even though Poloniex hasn’t come out with any justification for the event. The token’s value also suffered the same when it crashed to $0.0001 on Bitrue’s perpetual market. Furthermore, according to Crypto Basic, it has not been the first time XRP hit a low due to a glitch. That said, the drop was only for a couple of seconds, which is why there has not been any news or reactions about it on Twitter. However, around the time that XRP dropped, its value had been touching the $0.45 mark on major cryptocurrency exchanges, including the world’s biggest exchange, Binance. And according to Coinmarketcap, XRP has dropped by a minor 0.42% in the last 24 hours. The trading view chart shows the token hitting as low as $0.0002 before rebounding quickly.Īt press time, XRP is trading around the $0.4746 mark, far above the momentary and drastic low it dropped to yesterday. The token’s drop on the world’s 23rd biggest cryptocurrency exchange, according to, could have been a minor momentary glitch as Ripple has experienced the same before on Bitrue, a Singaporean cryptocurrency exchange. The XRP price went down to zero on the Poloniex exchange for a brief moment before rebounding to the current level. Securities and Exchange Commission (SEC), accusing it of securities law violations.Join Our Telegram channel to stay up to date on breaking news coverage The exchange was earlier this year sued by the U.S. The decline came after the exchange suspended zero-fee trading for USDT pairs and amid heightened regulatory scrutiny. Spot trading volume on Binance slid by 26% to $212 billion, marking the lowest volume since November 2020, while derivatives volume on the exchange dropped by 16.5% to $1.10 trillion, the lowest since December 2022.Īs a result, Binance’s market share of derivatives trading has fallen to 57.4%. The report adds that leading cryptocurrency exchange Binance witnessed a decline in both spot and derivatives trading volumes. The 30-day annualized volatility of these assets plummeted to levels unseen since the year’s outset, with a peak daily volume of $24 billion traded on May 5. That’s according to CCData’s latest Exchange Review report, which notes that the drop in trading activity can be attributed to a sustained period of narrow price movement for major cryptocurrencies, Bitcoin and Ethereum. Spot trading volumes fell 21.8% last month to $494 billion, their lowest level since March 2019. The combined trading volume of both spot and derivatives on centralized cryptocurrency exchanges has fallen 15.7% to $2.41 trillion, recording its second consecutive monthly decline.
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