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Crypto

XRP Sell-Off Accelerates Amid Geopolitical Tensions

Guavy AI Editorial Team
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XRP
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Ripple's XRP token experienced a sell-off on Wednesday, trading at around $1.32 as bears regained control despite steady ETF inflows.

The token had rallied by 72% in August from $1.00 to $1.70, but the gains stalled due to profit-taking and the need for fresh liquidity.

Renewed geopolitical tensions between the US and Iran are contributing to headwinds in the broader cryptocurrency market, with investors evaluating the impact of strikes on markets.

The Fear & Greed Index shows sentiment sliding to 63 in the Greed territory, from 69 the previous day, which could accelerate XRP's sell-off below $1.30 if it deteriorates further.

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