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Why XRP Is Sinking Today

TheMotleyFool

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XRP (CRYPTO: XRP) is getting hit with another round of sell-offs Tuesday. The cryptocurrency is down 4.1% over the previous 24 hours of trading as of 1:30 p.m. ET -- a stretch that also saw Bitcoin fall 2.8% and Ethereum sink 4.3%.

The cryptocurrency market is under pressure today, and Home Depot's latest quarterly report stands out as the most likely catalyst for valuation pullbacks in the space. Despite some significant valuation contraction after a record high last month, XRP is still up roughly 49% year to date as of this writing.

Image source: Getty Images.

Source Fool.com

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