Why $XRP Price Dropped 10%? Why Traders Are Selling XRP - CoinPedia Analytics

The XRP market has experienced a significant downturn since December 8, with the price falling by over 10.63%. On December 9, it dropped by 15.01%, reaching a low of $2.2138, and has yet to recover. This marks a stark contrast to the strong surge XRP saw earlier in the bull market, where it rose by over 366% since November 5.

At the start of December, XRP was trading at around $2.2934, peaking at $2.7237 on December 2. However, momentum weakened in the days following, with the price declining to $2.2428 by December 5. Attempts to recover between December 6 and 7 failed, culminating in the sharp drop on December 9.

Profit-taking and market corrections are often blamed for such sell-offs. Reports suggest that Korean exchanges may have contributed significantly to the decline, further amplifying the market's volatility. In comparison, Bitcoin (+1.5%), Ethereum (-0.2%), and Solana (-8.3%) outperformed XRP, which posted a 9.4% loss over the past week.