Crypto
XRP Spot Volume Explodes to $1.36B as Price Jumps 7% to $1.41
XRP spot volume surged to $1.36 billion in 24 hours this weekend as the price jumped 7% to reclaim the $1.41 mark.
The surge in XRP spot volume comes after a broad short squeeze across the market, with Bitcoin reclaiming the $80,000 level and sparking a rally that dragged altcoins higher.
According to CoinGlass, XRP's spot volume printed $1.36 billion, while total tracked turnover on CoinMarketCap approached $4.9 billion, up roughly 90% in a day.
The rally was not a clean breakout, but rather a squeeze that saw XRP wipe out approximately $8.05 million in short positions, with longs absorbing only about $2.36 million in losses by comparison.