Boost

2024

Billion

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In the past 24 hours, the crypto market experienced a significant liquidation of positions, surpassing $700 million, marking the largest event of its kind in several months. Amid this market turmoil,&nbsp;<a href="https://u.today/xrp-up-100-in-fund-inflows-last-year-but-it-is-far-from-maximum" rel="noopener noreferrer nofollow">XRP</a>, a well-established cryptocurrency, stood out by showcasing a remarkable resurgence in both trading activity and price recovery.
According to&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a> data, XRP observed a noteworthy surge in trading volume, reaching $3.5 billion, signifying a substantial 220% increase from the previous day. This surge in trading volume has not been witnessed since mid-November. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="4d610988-cb05-4c08-a2f6-4efa7fc10a51" src="https://u.today/sites/default/files/inline-images/XRP_7D_graph_coinmarketcap_5.jpeg">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Despite facing a 20% dip in its price during the market collapse, XRP demonstrated resilience as buyers entered the market, leading to a 15% recovery. Currently, XRP is trading at $0.58 per token, showcasing a notable rebound from its lowest level since Oct. 19.
While the&nbsp;<a href="https://u.today/xrp-price-analysis-for-january-3" rel="noopener noreferrer nofollow">XRP price</a> recovery is evident, it is important to note its limited role in the recent liquidation cascade, as seen in CoinGlass data indicating that $2.25 million worth of positions were liquidated in the past 24 hours, with 70% of them being long positions.
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 📈Trade volume surged past $40bn on Jan 3, hitting its highest level since the March banking turmoil. <a href="https://t.co/BsN7JB3ExH" rel="noopener noreferrer nofollow">pic.twitter.com/BsN7JB3ExH</a>— Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1742854764671447195?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 4, 2024</a>
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As trading volumes for major cryptocurrencies like&nbsp;<a href="https://u.today/bitcoin-btc-bull-run-in-cards-heres-how-exchange-services-are-meeting-it" rel="noopener noreferrer nofollow">Bitcoin</a> and&nbsp;<a href="https://u.today/ethereums-vitalik-buterin-sets-ambitious-target-for-l2s-details" rel="noopener noreferrer nofollow">Ethereum</a> reach levels reminiscent of the banking collapse in March 2023, totaling $40 billion, this sets the stage for potential billion-dollar turnovers in XRP in the coming days. XRP's recovery and the substantial surge in trading volumes make it a noteworthy player in the evolving narrative of recent crypto market fluctuations.

XRP Price Recovers With $3.5 Billion Boost Amid 220% Volume Surge

U_Today

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