Several significant events have occurred in the cryptocurrency market over the past day, including an unexpected move for XRP, bold predictions for Bitcoin, and new terms for Canada’s XRP ETF.
XRP's Dramatic Surge
On June 18, XRP exhibited an unusual spike in liquidation imbalance, soaring by 8,466% over a 12-hour period. According to CoinGlass, total liquidations for XRP amounted to $514,000, with the majority being $508,040 attributed to long positions. Despite the liquidation turmoil, XRP's price remained relatively stable, opening at $2.14998 and closing at $2.15417, with a slight net gain of 0.2%. The significant losses on long positions suggested traders were caught off guard by the price fluctuation, while minimal short liquidations indicated a possible bullish sentiment.
Bitcoin Predictions by Robert Kiyosaki
Robert Kiyosaki, renowned businessman and author of the bestseller 'Rich Dad Poor Dad,' recently made a bold prediction that Bitcoin could reach $1 million per coin by 2030. He emphasized the importance of focusing on the quantity of Bitcoin held rather than its price. 'While price is important... the rich will still be those with the most Bitcoin... The quantity you own is more important for your future than the prices,' he stated in his post. Kiyosaki had previously predicted that even 0.01 BTC could make investors wealthy in the future.
Zero Management Fee for Canada’s XRP ETF
Purpose Investments, one of Canada's largest investment firms, announced a management fee holiday for its newly launched XRP ETF. The management fees will be waived for nearly eight months, after which a 0.69% fee will be charged annually. The management expense ratio (MER) will be capped at 0.89%, ensuring the total costs won’t exceed this amount. In addition to Purpose Investments, firms like 3iQ and Evolve have also launched their XRP ETFs following regulatory approval.
The recent events in the cryptocurrency market highlight its dynamism and unpredictability. XRP's dramatic surge, bold Bitcoin predictions, and new ETF rules in Canada showcase the variety of opportunities and challenges facing investors.
