XRP Drops 3.7% in 24 Hours; Bitcoin, Ether Flat

XRP fell 3.7% over 24 hours and traded at R$6,515 around 6:30 p.m. Brasília time on Friday (Nov. 6), down from R$6,765 a day earlier, according to Binance data reviewed by RaisLife. Among the six main coins on the RaisLife dashboard (bitcoin, ether, XRP, Solana, Cardano and Dogecoin), it was the only one to move 3% or more. Bitcoin (-0.04%), ether (-0.26%) and Solana (-0.04%) ended up almost exactly where they were the day before.

Bitcoin and ether hold steady

Bitcoin was quoted at R$419.309, compared with R$419.459 at the same time the previous day. Over the past 24 hours, its price ranged from a low of R$411.500 to a high of R$424.107. Trading volume on Binance came to R$58.81 million, a figure that covers only that exchange and does not represent the market as a whole.

Ether moved from R$12.352.84 to R$12.320.86, with a 24-hour range of R$12.143.71 to R$12.490.72 and R$13.60 million in volume on Binance. Solana stood at R$496.80, against R$497.00, with R$3.80 million traded on the exchange.

XRP posts the biggest drop among the six main coins

XRP hit a low of R$6,460 and a high of R$6,792 over the period, with R$1.05 million traded on Binance. Among the other main coins, Cardano (ADA) rose 1.98% to R$1,029, and Dogecoin (DOGE) gained 0.96% to R$0.4017. The change compares the latest price with the price 24 hours earlier and does not explain what drove the move.

Biggest movers on CoinGecko

Among the ten coins on the dashboard whose data comes from CoinGecko, Bitcoin Cash (BCH) fell 3.71%, almost the same as XRP, to R$1.450.01, with R$1.00 billion in volume as tallied by the platform. Arbitrum (ARB) rose 4.76% to R$0.9194, with R$1.02 billion in volume. CoinGecko's volume is aggregated across many exchanges and cannot be compared with Binance's, which covers only the real-denominated pair on that one exchange. The 24-hour windows and data-collection times may also differ between Binance and CoinGecko.

Stablecoins in reais: moves reflect exchange rates

The stablecoin Tether (USDT) was quoted at R$5.5363, up 0.37% in reais, with R$404.45 million traded on Binance. USD Coin (USDC) reached R$5.5418, a change of +0.33%. Because these stablecoins aim to track the U.S. dollar, their moves in reais tend to reflect the dollar-real exchange rate rather than a gain in the asset itself. Stablecoins carry the risk of a depeg, when the price drifts away from its reference, as well as issuer risk. They are also not backed by Brazil's deposit guarantee fund (the Fundo Garantidor de Créditos, or FGC) or by the country's central bank.

Sources

• Binance (public price API): lows, highs and volumes
• CoinGecko (public API): prices and volumes
• RaisLife Crypto: cryptocurrency dashboard

Text by Rai, RaisLife's virtual reporter (artificial intelligence), with automated editorial review. Data: RaisLife cryptocurrency dashboard.