XRP Reclaims $2.30 Following $50M Liquidation

• Crypto market experiences a major dip on February 25, Bitcoin, Ethereum, and XRP face losses
• XRP bounces back from intraday low, now trading at $2.34 with a 14% increase
• XRP and SUI show growth despite Bitcoin’s decline over the last 24 hours

On February 25, the cryptocurrency market experienced a major dip. On this date, assets like Bitcoin, Ethereum, and XRP underwent significant losses, signaling the alert that the bull market that started in November of last year may have come to an end. 

As for XRP, the currency lost over 8% of its value in a single trading day, when it touched below $2.00 for the first time since its ascension to a new all-time high. During that fall, over $50 million was liquidated from the XRP market. 

However, buyers were not ready to give up yet. As the currency hinted that it could go below the $2.00 zone, XRP reversed its momentum, showcasing incredible resilience and reverting its intraday downward trend. 

Since hitting its lowest point this afternoon, $XRP has added over 30 cents to its value. According to CoinMarketCap, the currency now trades at $2.34 per token. 

This response from buyers has led XRP to even gain value when compared to the previous day. At this time of writing, the asset is up by 2.74% when compared to February 24. In fact, buyers have conducted a 14% increase since XRP’s lowest point, at 11:30 AM (UTC).

This slight resurgence appears to only have affected altcoins, as Bitcoin is still down by 4.18% over the last 24 hours. XRP and SUI are the two best-performing altcoins in the top 20 cryptocurrencies by market capitalization, with a 24-hour growth of 1.97%, and 2.85%, respectively. 

The fact that the currency was able to regain the $2.30 margin implies strong buyer interest and potential for further upward movement. The next step is to try and retest the $2.50 zone, so make sure to check out our daily price predictions. 

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