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Ripple Soars 5% As Social Sentiment Peaks Even As Bitcoin, Ethereum Sink

Published 28/03/2023, 06:01

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.

See Also: Top Indian Apps That Give Bitcoin, NFT Rewards

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.

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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