{"id":554092,"date":"2023-10-04T18:00:17","date_gmt":"2023-10-04T18:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=554092"},"modified":"2023-10-04T13:56:54","modified_gmt":"2023-10-04T13:56:54","slug":"is-xrp-growth-real-or-just-smoke-and-mirrors-heres-what-liquidation-data-shows","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/is-xrp-growth-real-or-just-smoke-and-mirrors-heres-what-liquidation-data-shows\/","title":{"rendered":"Is XRP Growth Real Or Just Smoke And Mirrors? Here’s What Liquidation Data Shows"},"content":{"rendered":"

XRP, the digital currency associated with Ripple Labs, has been making headlines with its recent price rally. However, a report suggests that the hype surrounding its performance might be overstated, as market data paints a different picture.\u00a0<\/span><\/p>\n

Despite a positive legal ruling and a robust community, XRP seems to struggle to gain the same level of confidence as Bitcoin (BTC) and Ethereum (ETH) among investors.<\/span><\/p>\n

Liquidation data from CoinGlass<\/span><\/a> reveals that in the past 24 hours, approximately $4.20 million worth of XRP has been liquidated. Interestingly, the short positions accounted for a mere $66.13K in losses, while long traders recorded a substantial $2.09 million loss.\u00a0<\/span><\/p>\n

\"\"<\/p>\n

Source: Coinglass<\/a><\/pre>\n
Related Reading: Shiba Inu Investors Beware: 425 Billion Tokens On The Move \u2013 Is It A Sell-Out?<\/a><\/div>\n
Liquidation Data Raises Questions On XRP\u2019s Price Rally<\/strong><\/h2>\n
This data underscores the fact that the recent ruling by Judge Analisa Torres, which classified XRP as not a security when traded on exchanges, failed to ignite significant bullish sentiment for the cryptocurrency.<\/span><\/p>\n
Comparing this liquidation data with that of Bitcoin and Ethereum reveals a stark contrast, further <\/span>suggesting that XRP<\/span><\/a> is still considered a less promising digital asset. This contrast raises doubts about the bullish predictions made by some experts following the recent legal ruling. It appears that despite its strong community support, XRP’s growth indicators are not aligning with the optimism that has surrounded it.<\/span><\/p>\n
<\/p>\n
XRP market cap currently at $28.4 billion. Chart: TradingView.com<\/a><\/pre>\n
Currently priced at $0.529 according to <\/span>CoinGecko<\/span><\/a>, XRP has seen a 5.0% growth in the past 24 hours and a seven-day rally of 7.4%. Despite these gains, market observers remain cautious about the coin’s long-term potential.<\/span><\/p>\n
XRP Trajectory: Contrasting Perspectives<\/strong><\/h2>\n
In a <\/span>separate report<\/span><\/a>, there is a contrasting perspective that suggests XRP could still experience significant growth in value. This report highlights the fact that during the prolonged legal battle with the US Securities and Exchange Commission that began in December 2020, XRP has shifted its focus to overseas markets. <\/span><\/p>\n
This strategic move has led to impressive client wins in emerging markets, where Ripple’s payment platform has the potential to make a substantial impact.<\/span><\/p>\n
\"\"<\/p>\n
XRP seven-day price action. Source: Coingecko<\/pre>\n
Related Reading: Is Dogecoin On Life Support? Analyzing Its Recent Price Downturn<\/a><\/div>\n
These client wins have paved the way for promising developments, particularly in projects related to cross-border payment systems and Central Bank Digital Currencies (CBDCs). These initiatives hold the potential to drive the long-term value of XRP, as they expand its use cases beyond speculative trading.<\/span><\/p>\n
XRP’s recent price surge may have garnered attention, but skepticism remains prevalent in the market. While some believe in its potential for further growth, the current data and market sentiment suggest that XRP still has hurdles to overcome to solidify its position as a top-tier digital currency.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from iStock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
XRP, the digital currency associated with Ripple Labs, has been making headlines with its recent price rally. However, a report suggests that the hype surrounding its performance might be overstated, as market data paints a different picture.\u00a0 Despite a positive legal ruling and a robust community, XRP seems to struggle to gain the same level of confidence as Bitcoin (BTC) and Ethereum (ETH) among investors. Liquidation data from CoinGlass reveals that in the past 24 hours, approximately $4.20 million worth of XRP has been liquidated. Interestingly, the short positions accounted for a mere $66.13K in losses, while long traders recorded a substantial $2.09 million loss.\u00a0 Source: Coinglass Related Reading: Shiba Inu Investors Beware: 425 Billion Tokens On The Move \u2013 Is It A Sell-Out? Liquidation Data Raises Questions On XRP\u2019s Price Rally This data underscores the fact that the recent ruling by Judge Analisa Torres, which classified XRP as not a security when traded on exchanges, failed to ignite significant bullish sentiment for the cryptocurrency. Comparing this liquidation data with that of Bitcoin and Ethereum reveals a stark contrast, further suggesting that XRP is still considered a less promising digital asset. This contrast raises doubts about the bullish predictions made by some experts following the recent legal ruling. It appears that despite its strong community support, XRP’s growth indicators are not aligning with the optimism that has surrounded it. XRP market cap currently at $28.4 billion. Chart: TradingView.com Currently priced at $0.529 according to CoinGecko, XRP has seen a 5.0% growth in the past 24 hours and a seven-day rally of 7.4%. Despite these gains, market observers remain cautious about the coin’s long-term potential. XRP Trajectory: Contrasting Perspectives In a separate report, there is a contrasting perspective that suggests XRP could still experience significant growth in value. This report highlights the fact that during the prolonged legal battle with the US Securities and Exchange Commission that began in December 2020, XRP has shifted its focus to overseas markets. This strategic move has led to impressive client wins in emerging markets, where Ripple’s payment platform has the potential to make a substantial impact. XRP seven-day price action. Source: Coingecko Related Reading: Is Dogecoin On Life Support? Analyzing Its Recent Price Downturn These client wins have paved the way for promising developments, particularly in projects related to cross-border payment systems and Central Bank Digital Currencies (CBDCs). These initiatives hold the potential to drive the long-term value of XRP, as they expand its use cases beyond speculative trading. XRP’s recent price surge may have garnered attention, but skepticism remains prevalent in the market. While some believe in its potential for further growth, the current data and market sentiment suggest that XRP still has hurdles to overcome to solidify its position as a top-tier digital currency. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock<\/p>\n","protected":false},"author":557,"featured_media":554105,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,4735,3685,13172],"class_list":["post-554092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-ripple-labs","tag-xrp-price"],"acf":[],"yoast_head":"\nIs XRP Growth Real Or Just Smoke And Mirrors? Liquidation Data<\/title>\n<meta name=\"description\" content=\"XRP, the digital currency associated with Ripple Labs, has been making headlines with its recent price rally. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is XRP Growth Real Or Just Smoke And Mirrors? 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