XRP remains in the spotlight of the crypto market amid changing liquidation positions and efforts to reclaim its all-time high.
Price Dynamics of XRP and Liquidation
Currently, the price of XRP is $3.017, showing a slight growth of 0.67% over the last 24 hours. However, on lower time frames, the coin has shown significant decline. CoinGlass data indicates that long traders experienced minor losses of $16,570, while short traders faced losses of $212,290. This has created a liquidation imbalance of 1,181%, highlighting the current state of the market.
Recovery of All-Time High
XRP aims to reclaim its all-time high of $3.84 achieved in 2018. With a current trading volume of $6.87 billion, buying momentum has slowed down, despite the removal of legal uncertainties, opening the way for institutional investors.
Future of XRP and ETF Opportunities
With growing interest in an XRP-based ETF product, active management companies like Bitwise and Grayscale continue to push this initiative. If approved, this could lead to a significant inflow of institutional capital and potentially push XRP above its previous all-time high. The short-term target for the coin is set at $4.
XRP continues to show interesting trends in the market, and its future may depend on the successful introduction of new financial products such as ETFs.
