TL;DR
- CryptoQuant warned that leverage positions are a giant driver behind XRP’s worth actions, which has elevated the asset’s open curiosity.
- This comes amid vital volatility that hit Ripple earlier as we speak after President Trump signed an govt order focusing solely on Bitcoin.
Recall the huge wave to the upside that XRP skilled on Sunday when US President Donald Trump namedropped the asset, alongside just a few others, to be doubtlessly included within the nation’s strategic crypto reserve. Ripple’s cross-border token exploded by double-digits and tapped $3 for the primary time in just a few weeks.
Nonetheless, the momentum was short-lived, and XRP shortly dropped to $2.2. However, it had recovered some floor and stood at $2.65 late final night time forward of Trump’s govt order that claims the nation will focus solely on Bitcoin, but it surely failed to say another cryptocurrency.
XRP’s worth tumbled by 9% instantly, taking place to $2.37 earlier than it bounced off to its present degree of $2.5.
On the identical time, CryptoQuant warned that the open curiosity for the third-largest digital asset has elevated by over 5.5% inside a brief timeframe, which suggests a worth transfer ‘fueled by leverage.’ The analytics agency added that XRP’s upcoming worth actions could possibly be ‘wild’ and suggested merchants to handle their threat.
Open curiosity for XRP is up 5.63%, signaling a worth transfer fueled by leverage. Elevated threat out there.
Leverage cuts each methods—keep sharp. pic.twitter.com/OQ53hl7W5k
— CryptoQuant.com (@cryptoquant_com) March 6, 2025
The controversy across the US crypto reserve continues however many analysts consider that XRP’s worth could possibly be poised for a large rally and it’s solely a matter of time earlier than it breaks its 2018 all-time excessive of $3.4 (in keeping with CoinGecko). Some went even additional, predicting outrageous worth surges that might drive XRP’s worth to double- and even triple-digit territory.
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