XRP
Why XRP is down 1.4% in the last hour
Analysis
XRP slipped 1.4% over the past hour as attention and derivatives activity appeared to rotate away from XRP toward other large-cap memes, with U.Today reporting a surge in Shiba Inu open interest against Bitcoin and XRP, which can coincide with short-term relative weakness in XRP. Separately, U.Today highlighted Ripple CTO David Schwartz reiterating that “XRP has no issuer,” a narrative-focused update that didn’t provide an immediate bullish catalyst to offset the softer sentiment.
Contributing Factors (2)
Shiba Inu Open Interest Surges Against Bitcoin and XRP
Shiba Inu moves against broad futures market trend that saw Bitcoin, XRP and other leading cryptocurrencies record notable declines in open interest.
Ripple's Schwartz: XRP Has No Issuer
Ripple CTO Emeritus David Schwartz has clarified that native XRP remains immutable and beyond the reach of any central authority.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.