On Monday, XRP, also known as Ripple, dropped by 5% and hit a six-week low, with the global crypto market cap falling by over 3%. This comes ahead of the upcoming U.S. inflation report. Similarly, Solana also declined and hit a multi-week low. XRP/USD dropped to an intraday low of $0.4333, breaking out of a floor at $0.4360, while SOL/USD fell to a low of $21.01, its lowest level since April 26.
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XRP Plunges to Six-Week Low as Crypto Markets Move Further into Red
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Why is XRP price up today?
Key factors driving XRP's price upward today are hopes of spot XRP exchange-traded funds in the U.S. and increased accumulation by whales.
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