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TheCryptoBasic

05/02/2024

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Here’s How Much Shiba Inu, Cardano, and XRP Have Dipped Since Their ATHs

This article outlines the extent to which Shiba Inu, Cardano, and XRP have declined since they registered their previous all-time highs.  The recent market onslaught has left sour tastes in the mouths of many...

Here’s How Much Shiba Inu, Cardano, and XRP Have Dipped Since Their ATHs

This article outlines the extent to which Shiba Inu, Cardano, and XRP have declined since they registered their previous all-time highs. 

The recent market onslaught has left sour tastes in the mouths of many investors as the prices of their favorite crypto assets continue to fall heavily from their respective all-time highs (ATHs).

Possible Reasons Behind the Latest Dip 

At press time, the global crypto market cap, which soared to around $2.76 trillion in March, was standing at $2.16 trillion. This represents a decline of 21.73% in less than two months. 

Many attribute the recent bloodbath to several factors, including the post-halving sell-off and miners’ adjustment. Notably, Bitcoin miners are still trying to adjust to the slash in mining rewards, which dropped from 6.25 BTC to 3.125 BTC after the halving event. Following the Bitcoin halving, miners have resorted to selling some of their BTC holdings to cover their operational costs. 

Besides the post-halving sell-off, other factors, such as macroeconomic conditions and the underperformance of Hong Kong’s Bitcoin and Ethereum exchange-traded funds (ETFs), have also been identified as potential reasons behind the recent dip in crypto prices. 

How Much SHIB, XRP, and ADA Have Slumped Since Their ATHs 

Meanwhile, this price collapse has pushed many crypto assets, including Shiba Inu (SHIB), XRP (XRP), and Cardano (ADA) far below their previous all-time highs. In this article, we will outline the extent to which SHIB, XRP, and ADA have plunged since their ATHs.   

Notably, Shiba Inu soared to around $0.000045 in early March, following a relief rally witnessed across the broader market. However, SHIB was changing hands at $0.00002184 in the hours leading up to press time. 

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Based on Shiba Inu’s massive price dip in two months, it is now down 75.19% from its all-time high of $0.00008845, registered on October 28, 2021. 

Additionally, ADA recorded a jaw-dropping rally in March, soaring to nearly $0.8. The broader market onslaught did not spare ADA, as the coin has plummeted to $0.4446 ever since. Following this price dip, ADA has plunged 85.66% from its previous ATH of $3.10, set on September 2, 2021. 

Unlike ADA and SHIB, XRP registered its all-time high in the 2018 cycle. Notably, the price of XRP spiked to $3.84 on January 4, 2018. XRP could not set a new all-time high record in 2021 partly due to the legal tussle between the SEC and Ripple, which began in December 2020. 

Although XRP soared to $0.93 in July 2023 after Ripple secured a partial victory against the SEC, the coin is currently priced at $0.5134. This puts XRP around 86.67% below its previous all-time high. 

While SHIB, ADA, and XRP are down over 75% from their previous ATHs, market watchers are optimistic that these crypto assets will register new highs in the peak of the 2024/2025 bull run. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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