After experiencing one of the most remarkable non-meme coin cryptocurrency market rallies of 2024, XRP has entered into a steep crash in the daily chart. Indeed, trading at $2.37, the token has dropped by a significant 7.56% in the last 24 hours.
The fall only becomes starker once the fact that on December 3 – just two days before – XRP stood at $2.82, as it indicates a total collapse of 16% from the recent highs.
XRP 24-hour price chart. Source: Finbold
Still, the sudden downward shift is, perhaps, not surprising as the recent rally ensured the cryptocurrency’s relative strength index (RSI) crossed above 70, signaling it is significantly overbought.
Such a setup has made the token susceptible to various potential shocks, and two major events have shaken XRP in the last two days.
Why XRP entered a significant correction
Specifically, the first drop from November 3 highs came as South Korea’s president unexpectedly declared martial law and, effectively, attempted
We współpracy z: https://finbold.com/why-xrp-price-is-crashing/
