Bitcoin

Important XRP Metric Skyrockets 140% in a Day but Ripple Price Suffers

1 Mins read


The past 24 hours saw the cryptocurrency market dip. While some coins managed to recover, Ripple’s XRP was unfortunately not one of them.

XRP’s price tumbled from above $0.49 to around $0.47 (where it’s currently trading) alongside most of the other altcoins during yesterday’s trading session. This followed Bitcoin’s price decline, which dipped below $25K before recovering to where it’s currently at almost $26K. While BTC was able to erase most of the losses in a classic Bart-chart price action, XRP failed to do so.

The uptick in volatility has also been reflected in the overall trading volume for XRP throughout the past 24 hours. According to data from CoinMarketCap, it now sits at around $1.3 billion, which is an increase of over 140% in the past day.

It’s important to note that Ripple recently acquired Fortress Trust – a well-known financial institution that’s primarily focused on cryptocurrencies. Without disclosing any particular details of the deal, it was made public that Ripple had made 4 of Fortress Trust’s customers whole for losses they suffered in a security breach. A Ripple spokesperson said:

Luckily, Ripple was in a position to act quickly to step in and make customers whole, and there have been no breaches to Fortress technology or system.”

The total sum of the acquisition remains unknown, and Ripple has made it clear that it plans to continue investing in the parent company of Fortress Trust once the acquisition goes through.

Meanwhile, we’ve also asked ChatGPT on its thoughts regarding Ripple’s performance during the next bull market. Here’s how the AI thinks XRP will do:

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


Source link

Related posts
Bitcoin

What is Ethereum's Dencun Upgrade and Why Does it Matter?

5 Mins read
20 Mar What is Ethereum’s Dencun Upgrade and Why Does it Matter? Posted at 15:22h in Education by admin The Ethereum Dencun…
Bitcoin

Is It Too Late To Buy MANEKI? Maneki Price Surges 103% In A Week And This DOGE Derivative Might Be The Next Crypto To Explode

2 Mins read
Join Our Telegram channel to stay up to date on breaking news coverage The Maneki price has surged 103% in the past…
Bitcoin

Bitcoin Whales Balance Returns To Pre-FTX Collapse Levels - Impact On BTC Price?

2 Mins read
Heading into the year 2024, Bitcoin spot ETFs (exchange-traded funds) and the halving event were arguably the biggest narratives in the crypto…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *