KARACHI: The exchange rate of Ripple (XRP) dropped to Rs64.26 against the Pakistani Rupee (PKR) in the open market on June 14, 2022, as of 10:12 AM Pakistan Standard Time (PST). This marks a decline from the previous day’s closing rate of Rs68.22 on June 13, 2022, showing a noticeable decrease in the value of Ripple relative to the rupee.
Simultaneously, the value of Ripple in US Dollars (USD) was reported at $0.31, down from $0.33 at the close of June 13. This downward trend in Ripple’s value reflects broader market volatility and weakening investor sentiment across the cryptocurrency space.
The weakening of Ripple against both the dollar and the rupee may be attributed to current global uncertainties, including tightening monetary policies and fluctuating demand in digital assets. In Pakistan, such shifts often trigger increased caution among crypto traders and enthusiasts who monitor the rupee-to-crypto parity for investment decisions.
While Ripple remains one of the leading altcoins in terms of market capitalization and utility in cross-border payments, its recent dip against the rupee highlights the vulnerability of digital currencies to global trends and speculative movement.
Disclaimer: All exchange data is provided strictly for informational purposes and should not be taken as financial, trading, investment, tax, or legal advice. Individuals are strongly encouraged to consult with a qualified financial advisor or trading expert before making any investment decision. The Ripple to rupee exchange rate does not constitute an offer or recommendation to buy, sell, or hold any cryptocurrency or financial asset.