Benzinga – Ripple (CRYPTO: XRP) was up 5% in the past 24 hours despite a negative day for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), as news of the Commodities and Future Trade Commission, or CFTC, filing a lawsuit against Binance and its CEO Changpeng Zhao spreads.
What Happened: XRP Network is witnessing a surge in popularity, with its social dominance reaching its highest point in a year. This resulted in XRP soaring above $0.49 for the first time since Nov. 6, 2022, according to the Santiment data tracker.
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The data analytics platform said that increased crowd recognition for XRP has driven greater volatility in prices, fueled by an influx of greater trading volume and mainstream attention.
#XRPNetwork’s social dominance is at its highest point in a year following the surge above $0.49 for the first time since Nov. 6. Added $XRP crowd recognition means more volatile price swings caused by increased volume & mainstream interest. https://t.co/bMT66JTwmT pic.twitter.com/pUIWe9vGKu
— Santiment (@santimentfeed) March 27, 2023
At the time of writing, XRP was trading at $0.47. The trading volume of XRP has increased by 55% reaching $2.1 billion in the last 24 hours, according to LunarCrush Data.
In the past 24 hours, data from CoinGlass reveals that a staggering $7.65 million worth of XRP was liquidated.
Overall 52,674 traders were liquidated in the past 24 hours, with the total liquidations standing at $149.92 million.
Price Action: BTC was trading at $26,966, down 3.50%. ETH at $1,713 down 3.07% in the last 24 hours, according to Benzinga Pro data.
Read Next: Bitcoin, Ethereum, Dogecoin Slide After CFTC Lawsuit Against Binance: Analyst Expects Apex Crypto To Touch $30K If Macroeconomics Remains Favorable
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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