The encryption market extended its sale during the weekend, with large encryption assets, including XRP, which suffers from significant decreases.
According to Coinglass Data264,608 merchants have been liquidated with a total amount of $ 687 million in the coded currency derivative market during the past 24 hours. Bullish Longs, or betting on price increases, formed $ 610 million of this total, while the short liquidation rose to $ 76 million. Bitcoin, with Altcoins, fell success while traders were weighing macroeconomic concerns.
XRP was not exempt from the declining pressure on the market, as its lowest level was $ 2.08 in the early Saturday session.
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Over the past 24 hours, XRP has seen $ 3.45 billion in trading volume, an increase of 3 % per Coinmarketcap amid the fluctuations of the encryption market. XRP was also lagging behind Bitcoin and Ethereum in sizes on the main Coinbase Coinbase, according to modern market data. Nevertheless, the price of XRP faces the declining pressure, just like the rest of the markets, after it has marked three consecutive days of decline since May 27.
Not enough yet
At the time of this report, XRP decreased by 1.78 % in the past 24 hours to $ 2.14, as it decreased slightly from losses inside the day, after it decreased to $ 2.08 early in the session.
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Amid the sale, XRP fell to less than the daily simple moving average (SMA) of 50 and 200 at 2.25 dollars and $ 2.3, respectively, for the first time in weeks, indicating that the declining momentum may be strengthened. The decrease is surprisingly followed by reports of the high demand for XRP as the asset of the Treasury for companies.
According to reports, the renewable energy provider collects VivoPower $ 121 million to create a Treasury Reserve that focuses on XRP, the first for a company publicly circulated. In separate news, China -based Webus International will collect $ 300 million in capital to launch the XRP Strategy Reserve.
SMA DAILY analysts monitor 50 dollars, which may determine whether XRP will decrease or decrease.
