XRP
Why XRP is down 4.7% today
Analysis
XRP fell 4.7% over the past 24 hours despite a few broadly positive headlines. CoinDesk noted that Japan’s weakening yen is pushing some companies toward bitcoin and XRP, and Decrypt reported Ripple’s multi-year branding deal putting the XRP logo on Kansas Jayhawks jerseys—neither of which appeared to offset the day’s selling pressure.
Contributing Factors (3)
Live markets: Japan's collapsing yen is pushing companies into bitcoin and XRP
Hedge funds have turned the most bearish on the yen since 2007, boosting bets on further losses to nearly 138,000 contracts as of June 30.
'Yen, Gold, Oil, XRP': Michael Gayed Names His Top Assets to Weather the Global Margin Call
Michael Gayed warns of an impending global margin call, linking the Yen, Gold, Oil, and XRP.
XRP Logo Lands on Kansas Jayhawks Jerseys as Ripple Inks Multi-Year Deal
Ripple and XRP become the latest crypto brands to enter the sports marketing space.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.