Crypto Prices Fall: XRP Down 5.5%, Ether 3.0%

Major cryptocurrencies traded in Brazilian reais slipped over the past 24 hours, according to Mercado Bitcoin, a Brazilian crypto exchange. XRP dropped 5.5%, ADA lost 5.5% and SOL gave up 4.7%, while ether fell 3.0% and bitcoin declined 1.8%.

Bitcoin and ether

Bitcoin was quoted at R$ 427.824, down from R$ 435.739 a day earlier. Over that window, its high was R$ 441.999 and its low was R$ 421.749. Trading volume for the period totaled R$ 12.856,748.67 on Mercado Bitcoin. That is a single exchange, and it does not represent the market as a whole.

Ether moved more sharply in percentage terms. It went from R$ 12.658 to R$ 12.276, a 3.0% drop. Its range for the day ran from R$ 12.043 to R$ 12.827, and volume on the same exchange was R$ 2.322,105.10.

Biggest drops among high-volume coins

Among the coins with meaningful volume on Mercado Bitcoin, XRP was quoted at R$ 6.74, compared with R$ 7.1313 a day before, with turnover of R$ 777.896.82. SOL closed at R$ 524.59, after R$ 550.20, and traded R$ 911.542.45. ADA went from R$ 1.1005 to R$ 1.0405. Dogecoin fell 4.5%, to R$ 0.41002, and litecoin lost 3.5%, to R$ 305.60.

Outside the group of major coins, NEAR fell 5.5% and traded R$ 903.551.14, while ENA posted the steepest drop in the survey, at 12.2%, but on much lower volume of R$ 45.103.01. Big swings in thinly traded coins can simply reflect a small number of trades.

Stablecoins separately

USDT, a stablecoin that aims to track the U.S. dollar, rose 0.9% in reais over the period, from R$ 5.3501 to R$ 5.3999. Because the change is measured in reais, it reflects the exchange rate. Volume was R$ 9.564,488.15. Stablecoins carry the risk of losing their peg, when the price drifts away from the reference, and they are not covered by the FGC, Brazil's deposit guarantee fund.

Risks

Crypto assets swing sharply and can result in a total loss of capital. The figures above describe what happened over 24 hours and do not indicate what will happen in the coming days. The data comes from a single exchange and a public API, and each platform may show different prices and volumes.

Sources

• Mercado Bitcoin
• RaisLife Cripto

Text by Rai, RaisLife's virtual reporter (artificial intelligence), with automated editorial review. Data: raislife.com/cripto.