XRP Plunges Despite New ETF Launch

Despite the launch of the first U.S. spot XRP ETF, Canary Capitals XRPC, XRP experienced a significant drop, falling over seven percent on November 14th. This decline occurred during a broader sell-off in the cryptocurrency market, pushing XRP below $2.30. A sudden price drop saw XRP fall from $2.48 to $2.30 within 24 hours, with a massive spike in trading volume indicating a rush of selling. Over 110 million XRP tokens were moved between unknown wallets around this time, suggesting large holders might have been selling off their tokens. Traders are now watching to see if XRP can hold above $2.29, as further drops could occur if it fails to do so.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.