XRP was trading at $0.71549 by 17:35 (22:35 GMT) on the Investing.com Index on Wednesday, down 13.77% on the day. It was the largest one-day percentage loss since September 7, 2021.
The move downwards pushed XRP’s market cap down to $35.97719B, or 1.75% of the total cryptocurrency market cap. At its highest, XRP’s market cap was $83.44071B.
In the case of Ripple, many analysts and market observers expect that when the case with the SEC comes to an end, XRP will see an explosive price surge that will send it back to the top ranks of the crypto market. The closure to the case in Ripple’s favor is also highly anticipated as the legal proceedings have been going their way.
What else could happen in 2022?
XRP had traded in a range of $0.71549 to $0.83655 in the previous twenty-four hours.
Over the past seven days, XRP has seen a drop in value, as it lost 9.3%. The volume of XRP traded in the twenty-four hours to time of writing was $1.76815B or 1.75% of the total volume of all cryptocurrencies. It has traded in a range of $0.7155 to $0.8638 in the past 7 days.
At its current price, XRP is still down 78.25% from its all-time high of $3.29 set on January 4, 2018.