Why is XRP Price Down Today?

XRP’s price has experienced a decline today, mirroring the downturn seen in the wider cryptocurrency market.

As of September 5, XRP’s value fell nearly 1.5% to $0.50, underperforming compared to the overall crypto market, which saw a decrease of approximately 1% during the same time frame. This drop correlates with an increase in the U.S. Dollar Index (DXY), highlighting a consistent negative correlation between the dollar and cryptocurrencies that has been observed since July.

The daily performance of XRP in relation to the overall crypto market capitalization is shown in accompanying charts. Additionally, data regarding XRP’s supply among significant holders is provided, along with a daily price chart for XRP/USD.