This move followed the wider crypto market. The change came even as a new product was launched for XRP holders. The product lets people earn extra income without selling their coins.
XRP is known as a payment focused digital asset. Many people use it for fast transfers across borders. Over the past day the price stayed mostly flat after the small drop. Trading activity is light at this time of year. Many investors are less active. This can cause quick price moves in both directions.
A new vault called earnXRP was introduced on Tuesday. The goal is to help XRP holders earn returns in a simple way. The vault is built to remove the stress of using DeFi tools. Users do not need to manage complex steps. The yield is paid in XRP which means holders can grow their balance over time.
The earnXRP vault was created by Upshift Clearstar and Flare. Upshift focuses on tools that help wallets and protocols build earn products. Clearstar works on risk control and vault design. Flare is a layer one network made for heavy data use. Ripple is a fintech company that uses XRP for global payments.
To use earnXRP a user starts by converting XRP into FXRP. FXRP is a version of XRP that is fully backed and used on the Flare network. It follows the ERC 20 token standard. Users deposit FXRP into the earnXRP vault. The vault then puts funds into different strategies to earn yield.
In return users receive a token called earnXRP. This token shows their share of the vault. It also tracks the yield that builds over time. The yield is counted in XRP. This means users can earn more XRP without trading or timing the market.
The current market mood is mixed. Many people feel unsure about XRP in the short term. Social media data shows a rise in negative comments. According to Santiment this can be a positive sign. In the past strong doubt from retail users has often come before a rebound.
Santiment shared that XRP is seeing more negative talk than usual. History shows that when many people expect lower prices the opposite can happen. This does not guarantee a rise but it has happened before.
As the year moves toward its end liquidity remains thin. Fewer traders are active. Prices can move fast on small news. If sentiment stays negative XRP could see a short term bounce. For now the market is calm and many are watching to see what comes next.
