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Why Is XRP Price Down Today?
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
XRP is trading at $1.41, down 1.61% today, as heavy leverage on Bitfinex begins to unwind. XRP long positions on the exchange surged from 4.9 million in June to a peak of 6.45 million in late August, one of the largest leverage buildups this cycle, according to trading data. Positions have since fallen back to 5.62 million as longs get flushed out of the market. Bitcoin traded at $78,762.19, up 0.4% over 24 hours, while Ethereum held near $2,494.76, up 2.2%. Traders are watching whether XRP finds support here or extends its pullback further.
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