XRP was once again among the top four assets in the cryptocurrency market after it rallied 70% in two days. At the time of preparation of the material, XRP has overcome the psychologically significant level of $ 1 and is trying to gain a foothold near it.
XRP pushed Polkadot, Tether and Cardano to the lower ranks during the rally. Binance Coin separates it from the third place, which it occupied for a long time before the recent moves. The capitalizations of the two assets are $ 44.6 billion and $ 58.5 billion, respectively. The latter also added 11% today and renewed maximums at around $ 385.
The current values are the highest for XRP since the beginning of 2018. Then its rate for a short time climbed to $ 3.40, before the market plunged into a bearish trend.
Jumps of tens of percent a day have already occurred in the XRP market during bullish phases in the past. Skepticism this time in the market participants was inspired by the ongoing proceedings of the SEC with Ripple. Recent movements have revived optimism: traders are beginning to remember memes, for example, that XRP is the “standard” of the cryptocurrency market, and to reach the $ 589 target, it must rise in price only 589 times.
Not everyone was in the mood for growth. Over the past 24 hours, XRP was the leader in terms of liquidation in the futures market with a value of $ 212 million. Curiously, only 58% of liquidated positions were short. In other words, a significant number of traders tried to join the rally, but lost money due to volatility and too high leverage.