XRP Volume Skyrockets 81% Amid $504 Million Market Sell-off
The post XRP Volume Skyrockets 81% Amid $504 Million Market Sell-off appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In the last 24 hours, XRP trading volume has increased by 81%, as the cryptocurrency market faced a sell-off that resulted in nearly $504 million in futures liquidations. Market sentiment turned bearish as markets digested recent comments from Fed Chair Jerome Powell on the path for interest rate cuts, leading to a wave of selling pressure across various cryptocurrencies. Profit-taking following recent market gains and liquidations of leveraged positions may have also contributed to the sell-off. According to CoinGlass data, crypto-tracked futures recorded nearly $504 million in liquidations in the past 24 hours. Of that total, $358 million were long positions. XRP/USD Daily Chart, Courtesy: TradingView XRP was able to defy the bearish trend, skyrocketing 16% in the last 24 hours to $0.822 and up 50% since the previous week. Related According to CoinMarketCap, XRP trading volume increased by 86% in the last 24 hours to $11.70 billion, or 14.23 billion XRP, as traders sought to profit from recent price volatility. Positive developments in XRP Ledger ecosystem XRP’s recent surge in price and, likewise, trading volume comes on the heels of positive developments in the XRP Ledger ecosystem, including whale accumulation. The digital asset arm of French multinational banking giant, SocieteGenerale-Forge has announced the launch of its EURCV stablecoin on XRP Ledger in 2025, with Ripple…
Filed under: News - @ November 16, 2024 1:18 pm