Not all market participants were interested in supporting today’s XRP pump, the cryptocurrency asset charts show.
Having shown a slight increase at 16:30 Moscow time, that is, at the very minute when the users in the Telegram group agreed to buy the token, XRP plummeted, losing 35% of its value within 10 minutes. The fall from the peak recorded two hours earlier is almost 50%.
The decline stopped near the level of $ 0.40, but the rebound was insignificant compared to it. As a result, XRP is now trading in the red with a loss of 8% on the daily cut. Earlier today, XRP climbed to the fourth place in the list of the largest cryptoassets with a capitalization above $ 30 billion, but by the time of publication it was again the fourth with a capitalization of $ 19 billion, behind Tether.
The volume of liquidation of margin positions on XRP in the last 12 hours is about half a billion dollars, six times the value of Bitcoin.
Against this backdrop, traders fear that XRP can pull Bitcoin with it. The rate of the first cryptocurrency really dropped a little over the last hour.
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