Xrp plummets 14% as the merchant voltage fuel market fear

February 3, 2025- (New York) The price of XRP, which ranks as the third largest cryptocurrency at market value, has fallen by approx. 14% over the past 24 hours, according to data from Coingeck. Earlier today, XRP hit a low level of $ 2.58 and marked its lowest point since January 14.

Analyst Timothy Sykes attributes to the downturn to ongoing merchant tensions and notes that the cryptocurrency markets remain open on the weekends, which enhances volatility. He expects that larger US stock indices will also suffer Monday as a result of these tensions.

Sykes emphasized the harmful effects of these trade issues on both business and finances. Donalt, a well-known cryptocurrency business, has warned that further sales may occur in the crypto market on Monday. While Bitcoin (BTC) has seen a decrease of over 4%, it does better than several other leading cryptocurrencies. Remarkably, Dogecoin (DOGE) emerged as the worst artist among the top ten who fell almost 15%.