XRP appears to be riding a rollercoaster of excitement lately! Just when you think you’ve got a handle on the cryptocurrency, it pulls a fast one. Can you imagine waking up to find that XRP has jumped over 6% after plummeting to a low of $2.08? This surge comes fresh on the heels of some hefty whale sell-offs—over 370 million XRP in just 96 hours! But hold on, it’s not all doom and gloom; there’s a silver lining as XRPL rolls out its ambitious new features aimed at the institutional DeFi space, like Decentralized Identity and Order-Book DEX Extension. So, is this a mere blip on the radar, or the beginning of something bigger for XRP? Buckle up and let’s dive into the turbulent yet thrilling world of XRP’s recent market movements and innovations! LEARN MORE
Key Notes
- XRP has skyrocketed more than 6% in the past 24 hours, rebounding from the daily low of $2.08.
- XRPL unveiled its push into institutional-grade DeFi services with features like DID and Order-Book DEX Extension.
- The XRP price crash in the past week was a result of whales offloading 370 million XRP in the last 96 hours.
XRP
XRP
$2.31
24h volatility:
7.9%
Market cap:
$133.89 B
Vol. 24h:
$7.98 B
, the fourth-largest cryptocurrency by market capitalization, turned bullish in the past 24 hours after a massive sell-off initiated by whales. The cryptocurrency dropped as low as $2.08 in the past day and trades at $2.28 at the time of writing, up more than 6% in the past day. This surge in price comes amid XRP Ledger’s push into the decentralized finance (DeFi) ecosystem.
As pointed out in a post on X (formerly Twitter) by Ali Martinez, a prominent crypto analyst, XRP whales have sold over 370 million XRP in the last 96 hours. This significant liquidation is evident from the chart below, which shows a marked decline in whale holdings and a corresponding drop in XRP’s price. The data suggests that large investors have been offloading their XRP holdings, leading to increased selling pressure and contributing to the token’s downward trend.
XRPL’s Institutional DeFi Push and Spot ETF
Despite the ongoing price volatility, the XRP Ledger (XRPL) is taking major steps toward building an institutional-grade DeFi ecosystem. XRPL is positioning itself as a secure and scalable Layer 1 solution by leveraging its native DEX, low fees, rapid settlement times, and compliance-friendly architecture. Several key features have already gone live, as per a blog post.
