In the past 24 hours, XRP's price has significantly increased, leading to substantial losses among traders betting against it.
Brief Surge in Liquidations of XRP
Traders betting on a decline in XRP's price faced losses totaling $281,180 in just one hour, amounting to a 54,781% increase in liquidations. This surge was triggered as the token's price rose from $3.21 to $3.36, forcing mass position closures.
Sustained Growth and New Horizons
At the time of writing, XRP is trading at $3.34, reflecting a 0.83% increase over the last 24 hours. However, trading volume has decreased by 37.95% to $7.35 billion. The price increase is supported by new positive market sentiments linked to regulatory clarity surrounding the asset.
XRP's Prospects and Industry Impact
Despite positive trends, traders who bet long on XRP also faced losses amounting to $67,910. Predictions of a possible sudden price rally are confirmed by technical indicators, but there are negative aspects, such as BlackRock's lack of interest in XRP ETF.
The XRP market shows mixed signals with high liquidations and price growth. Investors continue to monitor the SEC developments and future opportunities for XRP.
