Cryptocurrency

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ripple-faces-challenges-in-maintaining-stable-price/" data-wpel-link="internal">Ripple Faces Challenges in Maintaining Stable Price</a><br></p>
<p class="p1" style="text-align: justify"><strong>XRP</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> strength varies across different exchanges. Ripple price continues to reflect some of the turbulence experienced by the <a href="https://en.coin-turk.com/robinhoods-crypto-volumes-decline-company-plans-expansion-into-europe/" data-wpel-link="internal">crypto market</a> in the last 48 hours. At the time of writing, XRP is trading sideways at $0.48, a price point that has provided temporary stability in recent days. Market depth is something to observe during times of increased volatility.</p> 
<h2 class="p1" style="text-align: justify" id="cryptocurrency-exchanges-and-volatility">Cryptocurrency Exchanges and Volatility</h2> 
<p class="p1" style="text-align: justify">This <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> how much buying or selling pressure is needed to move the price in a certain direction. It also depends on numerous factors that vary from one platform to another, such as the depth of the order book.</p> 
<p class="p1" style="text-align: justify">Generally, exchanges with higher trading volumes and more liquidity have greater market depth. For instance, on the <strong>Binance</strong> front, it takes approximately $1.44 million in sell orders to move XRP’s price down by only 2%. On the other hand, it requires $1.2 million in buy orders to increase the price by 2%.</p> 
<p class="p1" style="text-align: justify">According to CoinMarketCap data, this process is valid for the <strong>XRP/USDT</strong> pair. For example, on the US-based Coinbase, where the volume is much lower, only $850,000 can create a 2% negative movement. The market depth in major exchanges appears as follows according to the graph below:</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-364975 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/coinmarketcap-1.png" alt="" width="1742" height="1102"></p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-xrp-front">What’s Happening on the XRP Front?</h2> 
<p class="p1" style="text-align: justify">Recently, the <strong>XRP</strong> price has failed to rise above $0.54, becoming a significant barrier for the bulls. Since then, the price has been gradually moving towards the next major support level at $0.43. It is also worth noting that bears have managed to show a downtrend on the monthly timeframe, indicating a significant change in the dynamics of price action.</p> 
<p class="p1" style="text-align: justify">The monthly close will occur in a few days, and it is crucial for buyers to step in if there is any chance of pushing the XRP price to $0.50 and above. The ongoing legal process between the SEC and Ripple Labs continues to create selling pressure on the XRP price.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-364974 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/xrp-7.png" alt="" width="2854" height="1444"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ripple-faces-challenges-in-maintaining-stable-price/" data-wpel-link="internal">Ripple Faces Challenges in Maintaining Stable Price</a></h5>

Ripple Faces Challenges in Maintaining Stable Price

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