Bitrue Users Hold $800M Worth of XRP and Show Strong Confidence in Long Positions
Users of the popular crypto exchange Bitrue currently hold an impressive $800 million worth of XRP, with a staggering 88% of these users taking long positions on the cryptocurrency. This surge in XRP holdings reflects the bullish sentiment surrounding the asset, and in just two days, the total value of XRP holdings on the platform increased by over 300%.
Key Points:
- Bitrue users hold $800 million worth of XRP, with 88% taking long positions.
- Notional value of open interest on Bitrue surged from under $200 million to $800 million.
- The recent ruling in the Ripple vs. SEC case sparked a sharp uptick in XRP holdings.
- XRP trading volume on Bitrue has significantly increased, with $47.8 million in spot trades in the past 24 hours.
- 88% of Bitrue users have taken long positions on XRP, indicating strong belief in its future.
Surge in XRP Holdings Indicates Investor Optimism Following Ripple vs. SEC Ruling
Following the recent ruling in the Ripple vs. SEC case, Bitrue witnessed a significant increase in notional value, with open interest surging to an impressive $800 million. This surge in demand for XRP is accompanied by a surge in trading volume on Bitrue, with $1.13 billion recorded in the XRP/USDT pair in the past 24 hours.
Key Points:
- Notional value on Bitrue increased from under $200 million to $800 million after the Ripple vs. SEC ruling.
- XRP trading volume on Bitrue has significantly increased, with $47.8 million in spot trades and $1.13 billion in perpetual market volume.
- 88% of Bitrue users have taken long positions on XRP, indicating a strong belief in its future.
- The positive market sentiment following the Ripple case ruling has led to a surge in XRP demand and trading volumes.
- XRP’s 24-hour trade volume hit a record high of $10.4 billion on July 13.
Hot Take: Exciting Time for XRP and Its Investors
The surge in XRP holdings on Bitrue, coupled with the positive market sentiment following the Ripple vs. SEC ruling, indicates an exciting time for XRP and its investors. With a strong belief in the cryptocurrency’s future and increasing trading volumes, XRP is poised for further growth and potential opportunities in the crypto market.
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