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JAKARTA – XRP, a popular crypto asset that ranks third after Bitcoin and Ethereum, recently recorded a brilliant achievement by surpassing Ethereum (ETH) in trading volume.
In the last 24 hours period, XRP was recorded to have a trading volume of 27.6 billion US dollars (approximately IDR 447.5 trillion), slightly higher than Ethereum which recorded a volume of 27.64 billion US dollars (approximately IDR 448.5 trillion).
The price of XRP is currently at 3.32 US dollars (approximately IDR 53,700), a 11.43% jump in the last 24 hours and 45.29% in a week. With market capitalization reaching 189.76 billion US dollars (approximately IDR 3,070 trillion). XRP managed to show outstanding performance over the past week.
In contrast, Ethereum experienced a slight decline of 0.32% in the last 24 hours, although the price of ETH still stands at $3,323 with an increase of 2.19% over the week.
The main cause behind the surge in XRP prices is the huge accumulation carried out by whales aka large amounts of crypto asset holders. According to data from Santiment, in the last two months, about 1.43 billion XRPs have been purchased by whales, increasing demand by 37%. This activity has provided a huge boost to the price of XRP, which is now trading much higher than its original position.
In addition, the overall market movement also boosted the price of XRP. In the last 24 hours, the position of short traders who are betting on falling prices has suffered heavy losses, with liquidation reaching 372 million US dollars (around IDR 6 trillion). This increase shows the potential for growth that is still large for XRP in the near future.
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Tag: teknologi xrp ripple kripto
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XRP Trading Volume Exceeds Ethereum, Many Short Traders Lose – VOI.ID
