XRP Hits a Monthly High Thanks to Trump’s Shoutout!
Hold onto your hats, folks! The crypto world just got a jolt of excitement. When the former US president throws his weight behind something, it's bound to create ripples—pun intended—in the market. After his major election victory back in November, crypto assets skyrocketed to new heights, fueled by his juicy promises.
But it hasn't been all smooth sailing. Trump's controversial moves since taking office, especially regarding the Russia-Ukraine conflict and trade spats, have been a rollercoaster for crypto. At one point, the market saw a jaw-dropping $800 billion drop in just a week!
Ripple's XRP has been on this wild ride, with prices soaring only to take a nosedive soon after. The latest buzz? Trump took to social media to announce a much-anticipated crypto reserve, featuring SOL, ADA, and XRP, with the future addition of his favorites, BTC and ETH.
This news sent the market into a frenzy, with a sea of green as prices climbed. XRP, the star of the show, catapulted from $2.22 to over $3 in a flash—an impressive 35% leap! It's even reclaimed its bronze medal position in terms of market cap, rising 45% since hitting a low of $1.95 last Friday, although it's settled around $2.9 for now.
This meteoric rise has left a trail of liquidations worth $57 million in just four hours, mostly from those betting against it. For the day, liquidations crossed a whopping $630 million, with short positions taking the brunt at $455 million. It's been a wild ride, and XRP is definitely stealing the spotlight!
