With all cryptocurrency markets in the red once again, it is evident things aren’t looking all that great heading into the weekend. The XRP price has taken another big hit over the past 24 hours, resulting in an 11.11% decline. With a current XRP price of $1.18, it will be interesting to see if we will see $1 before a return to $1.25. There’s no reason to think things will get out of hand in any significant manner, though.

Another bad day for the XRP Price

Whenever the Bitcoin price takes a big hit, all other currencies will suffer eventually. Not just because these currencies lose in ratio against BTC itself, but also because their USD value can effectively drop by double-digit percentages rather quickly. In the case of the XRP price, we have witnessed a decline from $1.65 to $1.18 over the course of a week. It is a big dip, but it is only to be expected when the markets are still in a state of flux, for the time being.

Although this current XRP price decline is not necessarily a big deal, it is evident things are heading in the wrong direction. Since all cryptocurrencies, tokens, and digital assets remain incredibly volatile for the time being, it’s only normal we will see medium to large price decreases in the coming days. With the weekend almost upon, we may see the XRP price drop below $1.1 in the next few days, although it remains to be seen how the markets will evolve.

With this 11.11% decline in USD value, the XRP price has dipped below $1.20 for the first time in five days. There is also a 4.98% decrease in BTC value to take into account, which will further push the value the XRP price down in the coming hours. It is evident there is an overwhelming pressure on the markets to keep all values down for the foreseeable future. Trends like these can always turn around, especially during the weekend, as few things make sense during those two days.

With $1.485bn in 24-hour trading volume, things are not looking all that bad for XRP. More specifically,  this digital asset tends to generate up to $5bn in volume, but it seems that will not happen anytime soon if this current trend remains in place. A lower trading volume doesn’t really matter all that much, though, as it is not the only indication of how the market will evolve in the next few days.

With three Korean exchanges generating over 52% of all XRP volume right now, it is evident the rest of the world is not too bothered with trading XRP. The first non-Korean exchange is Bitfinex without heir XRP/USD pair which generated $92.4m. Other than that, we have Poloniex and Binance generating half of that volume respectively. This can either indicate people are holding, or no one is bothering to trade XRP when the market is turning bearish for no good reason. It will be interesting to see whether or not we will see an increase in trading volume moving forward.

For the time being, the XRP price is seemingly poised to go below $1.15 in the coming hours. At that point, we will see either solid support to keep the price afloat, or the price will go even lower. Only time will tell what the next few days bring in terms of the XRP price. The current bearish pressure on all markets should not be ignored whatsoever. There’s a good reason the Bitcoin price will effectively fall below $10,000 before the weekend is over. If that happens, everything else will look even worse for wear than it does right now.