XRP eyes meteoric rise in engagement of market participants, but reasons may disappoint
In an extra-volatile period on the crypto market, the trading volume of XRP, a popular cryptocurrency, surged by a staggering 80% within the past 24 hours, soaring to a value surpassing $4 billion. reports that derivatives alone accounted for $2.16 billion, while spot markets added an additional $1.9 billion, marking a 55.4% increase from the previous day. Despite this substantial uptick, the token's market capitalization stands at $32.
This dramatic increase in trading volume coincides with a sharp decline in XRP prices, triggering stop losses and margin calls that forced buyers to hastily exit their positions. Consequently, the trading volume of the token experienced a notable surge, reflective of heightened market activity amid widespread sell-offs and liquidations.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.Rising Star: Lucky Boo Token Challenges Norms in Solana's Meme Coin ArenaMysterious 134 Million DOGE Purchase Spotted on Robinhood as Price Falls 12%
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