XRP
Why XRP is down 1.4% in the last hour
Analysis
XRP dipped 1.4% over the past hour as traders reacted to operational friction on the XRP Ledger: Bitget announced it will suspend RLUSD withdrawals on XRPL, which can weigh on near-term sentiment and liquidity around XRPL activity (U.Today). While a separate report noted XRP trading volume jumped 212% on a Singapore exchange amid growing institutional appetite (U.Today, confidence: 57%), that bullish signal may not have been enough to offset the immediate caution from the withdrawal suspension.
Contributing Factors (2)
Bitget to Suspend RLUSD Withdrawals on XRP Ledger
Bitget will suspend RLUSD withdrawals to make room for wallet maintenance on the XRP Ledger.
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.