XRP
Why XRP is down 4.8% today
Analysis
XRP fell 4.8% over the past 24 hours amid signs of derivatives deleveraging, as Bitcoinist reported XRP open interest dropping back to 2024 levels, which can coincide with reduced risk appetite and selling pressure. Sentiment may also have been weighed by an operational headline from U.Today that Bitget will suspend RLUSD withdrawals on the XRP Ledger, adding short-term friction for XRP Ledger-related activity despite separate reports of rising exchange volume.
Contributing Factors (3)
Bitget to Suspend RLUSD Withdrawals on XRP Ledger
Bitget will suspend RLUSD withdrawals to make room for wallet maintenance on the XRP Ledger.
Dogecoin And XRP Open Interest Crash To 2024 Levels, Here Are The Figures
Open interest in the derivatives markets for Dogecoin and XRP has fallen back to levels last seen in 2024, according to data from Coinglass. Slower capital inflows into the broader crypto market and e...
XRP Volume Rises 212% on Singapore Exchange as Institutional Appetite Grows
212% increase was seen in XRP spot purchase volumes, outpacing the sell side by over two times.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.