XRP trading could get spicy after CPI report as fu
XRP trading could get spicy after CPI report as futures bets hit highest since October.Wednesday’s big story is $XRP ($XRP), the payments-focused cryptocurrency. Not only did a bridge linking to the $XRP Ledger experience an exploit early today, but the token price also hovers near a level that, if breached, could embolden bears.
That level is $1. Prices briefly fell to 99 cents on some exchanges on Tuesday and, while they quickly recovered, the bounce looked to have stalled near $1.02. $XRP has lagged behind bitcoin and the broader market recovery in recent days.
What’s more, open interest in $XRP futures has risen to 2.67 billion $XRP ($2.73 billion), the most since October, from 2.25 billion $XRP at the start of the month. This buildup of leverage while $XRP trades at this price points to potential volatility.
That means $XRP is more vulnerable than other major cryptocurrencies such as bitcoin
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