Ripple’s (XRP) Harsh Reality: Is This the End of Its Bull Run?

The crypto market is currently grappling with a significant downturn, sending ripples of uncertainty across the board – Bitcoin, Ethereum, and Ripple (XRP), among other major digital assets, have experienced a steep tumble, defying the transient optimism spurred by the approval of spot Bitcoin ETFs.

After its short-lived rally, Bitcoin plunged to its lowest in a month at $40,800 as its long positions worth around $68 million were liquidated during the last 24 hours. Though the original cryptocurrency has made a slight recovery since, it still trades below $42,000 – the price level it has been consolidating around post-ETF announcement. Ethereum isn’t faring much better, with its value sliding below the $2,500 mark. The broader market mirrors this trend, with a near 2% drop in total cap, leading to a collective worth of $1.64 trillion. Amidst this turbulence, the fear and greed index reflects a cautious sentiment, scoring a moderate 56 and suggesting that investors are treading warily in these choppy waters.

Ripple (XRP), in particular, has felt the brunt of this downtrend, shedding 3% of its value, and faced a significant shake-up in trader positions. The aftermath has been staggering, with CoinGlass reporting a whopping $2.47 million in XRP positions liquidated in just 24 hours. But while these mainstream giants falter, there’s a glimmer of potential in the emerging presale project, ScapesMania (MANIA).

Ride The Wave Of Innovation With ScapesMania

As the ScapesMania presale nears its completion in February, the team is working hard to secure a quick listing on tier-1 exchange platforms. There is a good probability that the token’s value will increase exponentially after the listing.

The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry.

Moreover, the t

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Author: Crypto Daily

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