The cryptocurrency market has fallen by 6%, totaling $3.92 trillion. While Bitcoin holds above $118K, alternative coins like Ethereum and XRP faced steeper losses.
Market Overview
The cryptocurrency market declined by 6%, with a total market cap of $3.92 trillion. Bitcoin saw a slight dip of 0.7%, while assets like Ethereum fell by 6% and XRP by 10%. Other cryptocurrencies, including Solana, Dogecoin, and Cardano, also experienced significant declines of 7%-10% over the last 24 hours.
Liquidations and XRP Correction
Traders of Ether, XRP, and Bitcoin faced heavy losses during Tuesday's sell-off, with Ether seeing the biggest losses at $159 million in liquidations, followed by XRP at $89 million. Analyst XRPunkie pointed out that XRP's 10% drop is a normal correction after a 92% increase over 20 days, making this a typical market behavior. He expects prices to rise again towards $10-$15.
Corporate Adoption of XRP
Among positive news, Nature’s Miracle added $20 million worth of XRP to its treasury, showing growing confidence in the cryptocurrency. Additionally, Brazilian company VERT launched a $130 million blockchain platform on the XRP Ledger. These moves indicate increasing recognition of XRP in corporate finance and global infrastructure.
Although the cryptocurrency market is experiencing temporary challenges, such as XRP and other assets facing declines, the growing corporate acceptance of XRP could signal its future potential.
