While the broader cryptocurrency market has seen a notable surge, XRP has remained largely stagnant. In fact, over the past week...
has remained largely stagnant. In fact, over the past week, the altcoin recorded a slight decline in value, compounding a flat performance over the last 24 hours.
XRP’s decline has placed it in the same category as Toncoin, which also failed to gain traction amidst the market rally. The broader market’s rally has traditionally had a cascading effect on altcoins. Alas, this time, XRP decoupled from the rest.Analyzing funding rates for XRP across various exchanges offers us some insights into the sentiment within the Futures market.
This suggested that the optimism fueling other assets in the crypto market might not be as strong for XRP. This divergence can be interpreted to highlight XRP’s current detachment from the broader market’s bullish trend.An analysis of the altcoin’s price chart revealed that it has been consolidating around the $0.52-level on the charts.
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