XRP surged 10% on June 15 as the total cryptocurrency market capitalization approached $2.4 trillion, while Bitcoin held steady at $67,000. However, daily transactions on the XRP Ledger subsequently dropped to 1.74 million by June 18. By June 23, a major trader on the Hyperliquid platform faced the risk of a sudden liquidation of an XRP position worth over $30 million.
A major trader is struggling to maintain a massive XRP long position, betting on a historical July price recovery to avoid a $30 million liquidation.
Read the full storyDaily transaction volumes on the XRP Ledger dropped to 1.74 million, signaling a cooling of network utility and user engagement levels.
XRP leads an altcoin recovery as Bitcoin holds steady at $67,000, pushing the total market cap toward a key psychological threshold.