Crypto markets are rattled, but one major asset is bleeding particularly hard on Wednesday: XRP.

The fourth-biggest cryptocurrency by market cap is right now the biggest loser out of the top 10 coins and tokens, having dropped by nearly 11% in 24 hours, according to CoinGecko. Its price currently stands at $2.41.

Zooming out further, the Ripple-linked XRP has shed 21% of its value over a seven-day period. It’s tied with Dogecoin for the biggest loss among the top 10 coins during that span.

And open interest for the coin now stands at a monthly low of $3.52 billion worth of XRP, per data from CoinGlass, falling sharply from an all-time high mark of $7.62 billion worth on January 17.

In the world of derivatives, open interest is the collective value of futures contracts that have not yet been settled by traders.

The XRP Ledger, a blockchain for XRP-powered apps as well as a recently rising Go to Source to See Full Article
Author: Mathew Di Salvo

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