Cardano

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 <p>The price of XRP continues to trade narrowly between $0.62 and $0.61 this week. This consolidation stands in contrast to major gains seen by other top 20-ranked digital assets like Cardano (ADA) and Solana (SOL) over the same period.</p>
 <p>According to recent on-chain <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, decreasing trading volume for XRP seems to be a key factor holding back its price trajectory as the broader altcoin market rallies.</p>
 <p>Data from the crypto trading platform Coinglass shows that daily trading volume for XRP has declined sharply over the past week, even as its price trended downward. After hitting a peak of $0.69 last week, XRP has since dropped to around $0.61 at press time.&nbsp;</p>
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 <p>High trading volumes tend to signal strong market demand and high levels of economic activity around a coin. When trading activity declines at the same time broader market prices are rising, it often indicates waning investor interest and profit-seeking speculation in an asset compared to its competitors.</p>
 <p><strong>Also read: Here’s How to Be a Millionaire When Ripple XRP Hits $1</strong></p>
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 <h2 class="wp-block-heading" id="h-will-xrp-drop-below-0-60">Will XRP drop below $0.60?</h2>
 <p>With major altcoins like Avalanche, Cardano, and Solana posting historic double-digit price spikes this past week, XRP’s simultaneous loss of trading volume points to investors shifting attention to those rising stars over the languishing Ripple token for their short-term bets. This dynamic weighs on XRP’s price outlook.</p>
 <p>Without a significant infusion of bullish news or market triggers, XRP seems poised to fall below $0.60 in the coming days as negative momentum continues to sap its trading activity.</p>
 <p>To flip momentum and turn bullish again, XRP would need to break back above resistance at $0.67, where it peaked last week. Otherwise, failure by current holders to buy the dip could see prices cascade below $0.60. The next support level sits around $0.59.</p>
 <p><strong>Also read: Top 3 Cryptocurrencies You Need Before the Next Bull Run</strong></p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="457" src="https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp" alt class="wp-image-122478" srcset="https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 1024w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 300w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 768w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 1536w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 2048w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 380w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 550w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 800w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 1160w, https://cdn.thebittimes.com/images/2023/12/23/90d1f8930fddb18c09172792c8b3a6c3.webp 2678w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>In summary, Ripple’s XRP token has diverged from broader altcoin market gains this past week as investors dump the formerly mainstream asset. However, the 24-hour trading volume has surged by 22.3% and now stands at $1,371,489,998.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-price-prediction-will-xrp-drop-below-0-60-tbt74557.html">https://thebittimes.com/ripple-price-prediction-will-xrp-drop-below-0-60-tbt74557.html</a></p>

Ripple Price Prediction: Will XRP Drop Below $0.60?

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TheBitTimes

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