The crypto market was seen in its most volatile state. XRP, Ethereum [ETH], Binance Coin [BNB], along with an array of coins were making room for the bear. The market cap of the crypto-verse subsided to $1.73 trillion as Bitcoin dropped down to $737 billion.
XRP has had a tough time since the end of 2020. The SEC labeling the altcoin security further pushes the asset’s price down to a low of $0.19. These hard times seemed to be persisting for the altcoin as it succumbed down below $1. The altcoin witnessed extreme volatility as its price varied above and below $1.
At the time of writing, XRP was trading at $1.01 with a 1.67% drop since the last 24-hours. The entire week went bad for the altcoin similar to every other cryptocurrency as it endured a loss of about 13% in the last seven days.
The market cap of the altcoin witnessed a dainty surge compared to the last few days. At the time of writing, the cryptocurrency’s market cap was $46.79 billion, slightly higher than Dogecoin [DOGE]. These numbers further placed the coin in the sixth position.
XRP one-day price chart on Binance
The one-day price chart of XRP exhibited the prominence of the bear with subtle signs of the bull. Almost all the indicators were inclining towards the bear as the altcoin continued to echo the current sentiment of the crypto market. The Parabolic SAR indicator formed a line of resistance restricting any possible uptrends. The Chaikin Money Flow [CMF] indicator, was noted taking the side of the bear as the CMF marker was soaring over the zero median.
The MACD line remained below the signal line and alerted a bearish crossover. The altcoin had reportedly maintained this trend since the beginning of the month.
The XRP market noted more selling activity than buying, both the Relative Strength Index as well as the Money Flow index indicators revealed on the coin’s one-day price chart.