Altcoins
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The descent of cryptocurrency capitalization below the $1 trillion mark has sent most altcoins into the red zone, including XRP. Exceptionally, this token suffered double-digit losses in the top 10 cryptocurrencies.
Daily losses of more than 12% are explained by the previous price pump, as well as the disbelief of the crypto community in the future growth of the digital asset.
In particular, the CoinMarketCap community predicts that XRP will trade at an average price of $0.4166 by October 31, 2022. Figure generated using CoinMarketCap’s “Price Forecast” feature on September 28th.
The community bearish outlook for XRP 1574 by the voters indicates a drop of $0.00714 or 1.69% from the price of XRP, which is trading at $0.4237 at the time of writing.
XRP price calculation for October 1st. Source: CoinMarketCap
Community forecasts for the end of November are even more bearish at $0.3826 with 594 people in favor. The implementation of this scenario will bring the token down by $0.04114 or 9.71% compared to the current price.
Like many other digital assets, XRP has been on a downward trend since the beginning of the year and is trading 49.56% below its January 1, 2022, price of $0.84 (data from CoinMarketCap).
XRP price chart for the year. Source: CoinMarketCap
The price of XRP is currently trading 12.07% lower than the day before, but still 5.93% higher than the previous seven days. Market capitalization is $20.97 billion.
Meanwhile, Ripple’s litigation with the SEC continues, and at the moment, the confrontation with the regulator has already cost the company $ 100 million.
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