The cryptocurrency market has experienced a significant downturn in the past 48 hours, with top assets like Ripple (XRP) and Cardano (ADA) showing similar outflow patterns before a slight rebound. The wider crypto market has been trading sideways, wiping out previous gains and currently stands at a market capitalization of $2.7 trillion, down 0.2% in the last 24 hours.

Ripple's Struggles

Ripple's price has been in the red, with a 24-hour decline of 0.1% and a weekly loss of 4.1%. This downward trend is attributed to regulatory challenges with the Securities and Exchange Commission (SEC), which has led to weakened sentiment and limited inflows. Despite recent partnerships with traditional financial institutions to enhance cross-border payments, Ripple's market capitalization has dropped to $27.5 billion, with trading volumes at $1 billion.

Cardano's Resilience

Cardano, on the other hand, has recorded fewer outflows in the last 24 hours, with a 0.2% decline in price. The asset has seen an increase in daily trading volumes, above $433 million, and bulls are anticipating higher flows should the market rebound. Cardano's market capitalization stands at $15.5 billion, with the asset trading at $0.4489.

Conclusion

The crypto market downturn has affected both Ripple and Cardano, with regulatory challenges and market sentiment impacting their prices. While Ripple's struggles continue, Cardano has shown resilience, with bulls anticipating a market rebound. As the market navigates these challenges, the performance of these top assets will be closely watched by investors and traders alike.