“Is the XRP Rally Real or a Trap? Ripple Investors Face a Critical Decision After 8% Plunge!”
“Is the XRP Rally Real or a Trap? Ripple Investors Face a Critical Decision After 8% Plunge!”
In a world where cryptocurrencies seem to dance to the whims of global headlines, today’s developments around XRP might just make you raise an eyebrow—or two. Did you ever think that a presidential signature could send waves of volatility through the crypto markets? Well, it just happened! Following President Trump’s executive order—which curiously zeroes in on Bitcoin while leaving other cryptocurrencies in limbo—XRP’s price took a dramatic turn, tumbling down nearly 9%. To add fuel to the fire, CryptoQuant is ringing alarm bells over an uptick in leverage positions, hinting that the upcoming price moves could be anything but stable. With speculation swirling about XRP’s potential rally, could we see it break its all-time high? Buckle up, because the crypto rollercoaster is far from over! LEARN MORE
TL;DR
CryptoQuant warned that leverage positions are a big driver behind XRP’s price movements, which has increased the asset’s open interest.
This comes amid significant volatility that hit Ripple earlier today after President Trump signed an executive order focusing only on Bitcoin.
XRPUSD. Source: TradingView
Recall the massive wave to the upside that XRP experienced on Sunday when US President Donald Trump namedropped the asset, alongside a few others, to be potentially included in the country’s strategic crypto reserve. Ripple’s cross-border token exploded by double-digits and tapped $3 for the first time in a few weeks.
However, the momentum was short-lived, and XRP quickly dropped to $2.2. Nevertheless, it had recovered some ground and stood at $2.65 late last night ahead of Trump’s executive order that says the country will focus solely on Bitcoin, but it failed to mention any other cryptocurrency.
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