#新币挖矿ntrn #一起来跟单 $BTC $ETH One of the reasons for the recent decline is the general bearish sentiment in the entire crypto market. In addition to XRP, other well-known crypto assets have also suffered huge losses in the past week, mainly due to the reduction of market buying pressure.
The global cryptocurrency market capitalization reached a two-month high of $1.12 trillion on Oct. 2. However, the market has since lost $70 billion, with the total market capitalization currently at $1.05 trillion, a drop of 6.25%.
Crypto assets like Bitcoin (BTC) and Ethereum (ETH) have seen disheartening losses over the past 24 hours, falling 1.81% and 1.82% respectively. These consecutive declines have had an impact on other parts of the market, including other assets like XRP.
Another reason for XRP’s decline is the tensions between Israel and Palestine, which has alienated investors from riskier assets, including cryptocurrencies. As tensions escalate, market participants are concerned about the potential economic impact that the conflict could have.
These concerns have led investors to seek safe havens and avoid high-risk assets such as cryptocurrencies in an attempt to mitigate the risk of a potential crash. This trend has led to a sell-off in the cryptocurrency market, which has had a negative impact on XRP and other assets.
The third factor behind XRP's decline is the massive transfer of whale funds to exchanges. According to the Whale Alert report, whales transferred 61 million XRP to Bitstamp in the past 24 hours. Two days ago, Ripple also transferred 60 million XRP, raising concerns about further selling.
