Analyst warns of ‘leverage driven pump’ as XRP price soars
CryptoQuant community analyst Maartunn highlighted that XRP’s current price increase is a “leverage-driven pump,” with a similar event in the past ending in a 17% correction.
According to CryptoSlate data, XRP was priced at $1.72 as of press time, up 16.4% over the past 24 hours to become one of the best-performing crypto in the top 10.
The open interest in XRP futures increased 37%, along with the recent price surge.
Moreover, XRP climbed 232% in the past 30 days, which is over four times larger than the crypto market average return of 57.3% in the same period.
Bullish news
XRP started its run nearly one week after the US election results, which resulted in former President Donald Trump returning to the White House for a second…
