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According to <a href="https://coinmarketcap.com/currencies/xrp/">CoinMarketCap</a> data, XRP has experienced a significant surge in trading volumes, skyrocketing by 170% even as the market faced a significant sell-off.
Cryptocurrencies tumbled deeper into a correction on Monday, with <a href="https://u.today/bitcoin-ten-year-prediction-michael-saylor-hints-price-boom-ahead">Bitcoin (BTC)</a> dipping to near $60,000 and altcoins seeing even deeper pullbacks during the same period. The sudden pullback triggered over $281 million in liquidations of leveraged derivatives trading positions across all digital assets, CoinGlass data shows.
Out of this amount, over $259 million in crypto longs were liquidated in the past 24 hours as major tokens slid, some even as much as 10%. Despite the market's overall bearish sentiment, traders have flocked to XRP, driving its trading volumes higher. According to CoinMarketCap <a href="https://coinmarketcap.com/currencies/xrp/">data</a>, XRP's trading volume has surged by 170% in the last 24 hours, reaching $1.035 billion.
This surge in activity suggests that investors are either capitalizing on the volatility or positioning themselves for anticipated movements in XRP's price.
<h2 id="xrp-price-action">XRP price action</h2>
<a href="https://u.today/massive-51-million-xrp-stash-shifted-from-binance-as-whales-intensify-moves">XRP</a>'s price fell 2.32% in the last 24 hours to $0.4766 at press time, as cryptocurrencies sold off at the start of the week. XRP opened Monday's trading session around $0.48 before falling to a low of $0.4638.
<img alt="TradingView" data-entity-type="file" data-entity-uuid="900bb1c8-54b6-4559-b9b7-c82fe5cc4a2a" src="https://u.today/sites/default/files/inline-images/24062024%200000.png"><a href="https://www.tradingview.com/x/PZQgqLFT/">XRP/USD Daily Chart, Courtesy: TradingView</a>
The crypto market's losses widened after its second-worst weekly decrease of 2024, reflecting lower demand for Bitcoin exchange-traded funds and monetary policy uncertainties emanating from concerns about the Federal Reserve's scope to decrease interest rates fast from a two-decade high. For some analysts, the decline in digital assets is a warning indication of the overall risk appetite.
Amid this, XRP was demonstrating lesser losses among the top 10, most of which saw losses between 4% and 6%.
Market analysts are closely monitoring<a href="https://u.today/xrp-price-prediction-for-june-23"> XRP price</a> movement as increased trading activity could signal investor positioning.

XRP Skyrockets 170% in Volume Amid $281 Million Market Crash

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