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Cryptocurrency volatility shock: XRP, ADA suffer double-digit losses in 7 days

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Byadmin

Dec 10, 2024
加密货币波动冲击:XRP、ADA在7天内遭受两位数损失Cryptocurrency volatility shock: XRP, ADA suffer double-digit losses in 7 days

XRP’s seven-day losses reached 14%, while Cardano (ADA) led the top ten cryptocurrencies with a negative price change of 19%.

XRP and ADA record double-digit weekly losses

On Tuesday, December 10, the price of XRP briefly dropped to $2.14, down nearly 20% from Monday’s high of $2.61. The drop mirrored a market-wide correction, with Bitcoin (BTC) also briefly dropping to $94,000. This market volatility led to the liquidation of more than $1.5 billion in long and short positions, according to News.

Although BTC played a key role in the cryptocurrency market’s 6% drop, its price movement over the past week shows a loss of less than 3%.

However, despite XRP’s strong performance for most of December, it is now trading at around $2.23, 6% below its 24-hour high. Compared to its price in USD a week ago, XRP’s losses rise to 14%.

Data from Coingecko shows that XRP’s seven-day performance makes it one of only two top-10 digital assets to experience double-digit losses. Cardano (ADA) leads the top-10 currencies with a negative seven-day price change of 19% after briefly falling below $1. Although ADA, along with the rest of the top-10, appears to be recovering at the time of writing, it is still 19% below its Dec. 3 high of $1.28.

At the time of writing (Dec 10, 07:30 AM EST), Solana (SOL) and Dogecoin (DOGE) are the only two top-10 cryptocurrencies to have posted negative returns over the past seven days.

In contrast, Binance (BNB) leads the top ten with a 7-day positive return of 8%, followed by Ethereum (ETH), which broke through the $4,000 mark on December 6 with a gain of 4.3%. Lido Staked Ether (sETH) ranks third with a gain of 4.2%, and BTC ranks fourth with a gain of 2.6%.

Meanwhile, Quantum Resistant Ledger (QRL) topped the list of top gainers on December 10 with a gain of about 150%. Meme coin Koma Inu came in second with a gain of nearly 140%, while GRIFFIN took the next highest ranking with a gain of 122%. In terms of losers, Comedy Coin (BAN) topped the list with a negative gain of 28%, followed by HUMAN protocol with a loss of 23%.

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