Cryptocurrency 9 minutes ago (Dec 17, 2022 04:30AM ET)
If Bears Triumph, XRP Values May Tumble Below $0.3481 Support
- Market turbulence continues, with Binance now embroiled in a controversy
- According to technical indications, the market will remain under bear grip
- The XRP price may continue to fall if it drops below the $0.3481 support level
Crypto markets have been tumultuous since the FTX meltdown. Binance has seen more withdrawals because to concerns that customers’ assets may be mixed with the exchange’s funds. Mazars’ South African affiliate’s proof-of-reserves and proof-of-liabilities verification report blasted Binance last week for only disclosing “part” of its assets and liabilities. This has devalued most cryptos, including XRP.
The current market turmoil has caused XRP’s value to fall to $0.3528, a drop of 6.78 % as of press time. Evidence of this heightened selling pressure can be seen in the 6.88% drop in market capitalization to $17,770,987,465 and the 66.34% rise in 24-hour trading volume to $1,129,298,972.
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