Summary
- Recently, XRP has experienced increased volatility due to delays in ETF approval and large-scale leverage liquidations.
- It was reported that a sharp price drop occurred, with $1.05 billion in long positions liquidated over 24 hours.
- However, it was also noted that the key support level in the $3.06–$3.10 range remains intact.
Recently, XRP has shown increased volatility. Analysts attribute the sharp price drop to factors such as the delay in ETF approval and large-scale leveraged position liquidations.
As of 2:14 PM KST on the 25th, XRP is trading at $3.09 on CoinMarketCap, down 0.14% from the previous day. During the session, XRP briefly plunged to $2.96 but has since partially recovered.
While XRP has been fluctuating between $2.96 and $3.26, $1.05 billion in XRP long positions were liquidated over the past 24 hours.
According to cryptocurrency-focused media outlet CoinDesk, "Uncertainty surrounding ETF approval and the excessive liquidation of leveraged positions have jointly triggered the short-term plunge."
However, CoinDesk noted, "Even so, XRP has maintained the key support level in the $3.06 to $3.10 range."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
