BitcoinCryptocurrency EducationEthereumNewsXRP

XRP Price Recovers With $3.5 Billion Boost Amid 220% Volume Surge

1 Mins read

In the past 24 hours, the crypto market experienced a significant liquidation of positions, surpassing $700 million, marking the largest event of its kind in several months. Amid this market turmoil, XRP, a well-established cryptocurrency, stood out by showcasing a remarkable resurgence in both trading activity and price recovery.

According to CoinMarketCap data, XRP observed a noteworthy surge in trading volume, reaching $3.5 billion, signifying a substantial 220% increase from the previous day. This surge in trading volume has not been witnessed since mid-November.

""
XRP to USD by CoinMarketCap

Despite facing a 20% dip in its price during the market collapse, XRP demonstrated resilience as buyers entered the market, leading to a 15% recovery. Currently, XRP is trading at $0.58 per token, showcasing a notable rebound from its lowest level since Oct. 19.

While the XRP price recovery is evident, it is important to note its limited role in the recent liquidation cascade, as seen in CoinGlass data indicating that $2.25 million worth of positions were liquidated in the past 24 hours, with 70% of them being long positions.

As trading volumes for major cryptocurrencies like Bitcoin and Ethereum reach levels reminiscent of the banking collapse in March 2023, totaling $40 billion, this sets the stage for potential billion-dollar turnovers in XRP in the coming days. XRP’s recovery and the substantial surge in trading volumes make it a noteworthy player in the evolving narrative of recent crypto market fluctuations.

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.