Ripple (XRP) Price Soars to $0.55 as Volume Explodes 70% Daily: Details

Ripple’s price has suddenly taken to the skies, exploding by more than 8.5% in the past hour. This comes on the back of massively increased trading volumes, which also led to a cascade in liquidations.

• XRP’s price exploded by almost 9% in the past hour, reaching a high of almost $0.55 across multiple exchanges.

Source: CoinGecko* This latest move comes on the back of more recent increases from earlier today.

• It’s also worth noting that the trading volume exploded by some 70% across the major exchanges, which triggered a cascade of liquidated futures positions.
• Data from CoinGlass shows that the past hour alone saw around $2.7 million in liquidated positions, leading the market by a large margin:

Source: CoinGlass* There doesn’t seem to be a particular trigger behind the increase, but if you’re interested in finding out the more general reasons, check out our latest coverage here.