It is uncanny how the cryptocurrency markets have evolved these past 24 hours. After two days of solid losses,, we now have an equally strong bounce. Most currencies have recovered anywhere from 15% to 110% of their lost value in the past few hours alone. This does not mean the Great Cryptocurrency Selloff of 2018 is over yet. For now, we all get a chance to catch our breaths, but there is still more than enough reason to remain very cautious right now.
It became evident rather quickly the XRP price would be one of the first to show a major rebound. More specifically, the XRP price dropped from $3 all the way to $0.91 yesterday. Such losses created a solid buying opportunity for those users who were confident things would go back to normal eventually. As a result, those who bought in near that low price are now 50% in profit. Moreover, they are up by 30.7% in BTC value as well.
It is also worth noting how the XRP trading volume has increased rather spectacularly. With almost $9.5bn in 24-hour volume alone, XRP is one of the more actively-traded commodities across all cryptocurrency markets.
As is to be expected, the majority of XRP trading volume originates from platforms Non-Korean users won’t be able to access. Bithumb, Upbit, Coinone, and Korbit are all in the top five of exchanges ranked by volume. The only exception is Bitfinex with their XRP/USD pair. Surprisingly, Bitstamp’s XRP/USD pair is in sixth place, as the first trading market related to Bitcoin is in seventh place. Fresh capital seems to be flowing to XRP again, which can have some rather interesting consequences.s.
It became evident rather quickly the XRP price would be one of the first to show a major rebound. More specifically, the XRP price dropped from $3 all the way to $0.91 yesterday. Such losses created a solid buying opportunity for those users who were confident things would go back to normal eventually. As a result, those who bought in near that low price are now 50% in profit. Moreover, they are up by 30.7% in BTC value as well.
It is also worth noting how the XRP trading volume has increased rather spectacularly. With almost $9.5bn in 24-hour volume alone, XRP is one of the more actively-traded commodities across all cryptocurrency markets.
As is to be expected, the majority of XRP trading volume originates from platforms Non-Korean users won’t be able to access. Bithumb, Upbit, Coinone, and Korbit are all in the top five of exchanges ranked by volume. The only exception is Bitfinex with their XRP/USD pair. Surprisingly, Bitstamp’s XRP/USD pair is in sixth place, as the first trading market related to Bitcoin is in seventh place. Fresh capital seems to be flowing to XRP again, which can have some rather interesting consequences.s.