{"id":543076,"date":"2023-07-18T11:30:35","date_gmt":"2023-07-18T11:30:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=543076"},"modified":"2024-06-11T07:59:41","modified_gmt":"2024-06-11T07:59:41","slug":"xrp-holdings-on-bitrue-exchange-surges-by-300","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/xrp-holdings-on-bitrue-exchange-surges-by-300\/","title":{"rendered":"XRP Holdings On Bitrue Exchange Surges By 300%"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Over the last week, the XRP token has dominated the headlines following Ripple\u2019s partial court victory over the United States Securities and Exchange Commission (SEC).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">On July 13, Judge Analisa Torres of the US District Court of the Southern District of New York <a href=\"https:\/\/bitcoinist.com\/ripple-judge-deems-xrp-sale-non-investment-contract\/\" target=\"_blank\" rel=\"noopener nofollow\">ruled that X<\/a>RP doesn&#8217;t qualify as a security leading to a massive price surge in which the token gained by almost 90%.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, while it may appear that XRP&#8217;s positive effect on the market is waning, with most assets slipping into a bearish state, there is still a high level of interest surrounding this altcoin, proven by a recent report from prominent crypto exchange Bitrue.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitrue Users Accumulate $800M Worth Of XRP In Futures Market.\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In the late hours of yesterday, a crypto analyst with the Twitter handle @cowboycrypto313 <a href=\"https:\/\/twitter.com\/cowboycrypto313\/status\/87332866?s=46&amp;t=JAUmthpFclo8jS4VJkm3DQ\" target=\"_blank\" rel=\"noopener nofollow\">revealed<\/a> that Bitrue had shared a report via email with its users, noting a massive increase in the notional value of the open interest of the XRP token.<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-price-retreats-rally-0-95\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">XRP Price Retreats After Massive 80% Rally, Buy The Dips?<\/a><\/p>\n<p><span style=\"font-weight: 400\">The notional value of open interest refers to the total value of outstanding contracts in a futures or optional market. In this context, it represents the total value of XRP on the Bitrue exchange based on what its traders have pledged to buy or sell in the future.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In this report, Bitrue states that XRP holdings in its Futures service spiked from less than $200 million to over $800 million during the weekend. Interestingly, the exchange further revealed that 88% of its users are holding a long position on this asset.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a chart shared by Bitrue, the notional value of open interest for XRP on its platform had been below $200 million for the majority of the last two weeks. However, following the court ruling on July 13, this index started rising, with the XRP Futures market recording a notable spike on July 16.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-543087\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/photo_2023-07-18_11-27-26.jpg?resize=860%2C649\" alt=\"XRP\" width=\"860\" height=\"649\"><\/p>\n<pre style=\"text-align: center\">Source: <a href=\"https:\/\/twitter.com\/cowboycrypto313\/status\/87332866?s=46&amp;t=JAUmthpFclo8jS4VJkm3DQ\" target=\"_blank\" rel=\"noopener nofollow\">Twitter<\/a><\/pre>\n<h2><span style=\"font-weight: 400\">XRP Soars By 57% In Seven Days<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In other news, XRP remains the center of the crypto market attention, recording a 56.73% gain in the last week, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/#Chart\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap<\/a>. Currently, XRP, which now ranks as the fourth-biggest cryptocurrency, is tagged biggest weekly gainer.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Nevertheless, it is worth noting that this token has shown little to no price movement in the last few days, with its price hovering around the $0.74 region. As of this writing, XRP is trading at $0.742 with a 1.14% gain on the last day.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/btc-price-analysis-why-is-bitcoin-down-today\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">BTC Price Analysis: Why Is Bitcoin Down Today?<\/a><\/p>\n<p><span style=\"font-weight: 400\">However, its daily trading volume has seen a sharp decline falling by 40.29% to its current value of $2.41 billion. Other major weekly gainers include Stellar (XLM) and Synthetix (SNX), with their market prices rising by 25.75% and 30.24%, respectively.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/WFhgvKUH\/\" alt=\"XRP\" width=\"1480\" height=\"913\"><\/p>\n<pre style=\"text-align: center\">XRP Trading At $0.7445 On The 4-Hour Chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">XRPUSD Chart On Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured Image From Business Standard, Chart From Tradingview.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Over the last week, the XRP token has dominated the headlines following Ripple\u2019s partial court victory over the United States Securities and Exchange Commission (SEC).\u00a0 On July 13, Judge Analisa Torres of the US District Court of the Southern District of New York ruled that XRP doesn&#8217;t qualify as a security leading to a massive price surge in which the token gained by almost 90%. However, while it may appear that XRP&#8217;s positive effect on the market is waning, with most assets slipping into a bearish state, there is still a high level of interest surrounding this altcoin, proven by a recent report from prominent crypto exchange Bitrue. Bitrue Users Accumulate $800M Worth Of XRP In Futures Market.\u00a0 In the late hours of yesterday, a crypto analyst with the Twitter handle @cowboycrypto313 revealed that Bitrue had shared a report via email with its users, noting a massive increase in the notional value of the open interest of the XRP token. Related Reading: XRP Price Retreats After Massive 80% Rally, Buy The Dips? The notional value of open interest refers to the total value of outstanding contracts in a futures or optional market. In this context, it represents the total value of XRP on the Bitrue exchange based on what its traders have pledged to buy or sell in the future.\u00a0 In this report, Bitrue states that XRP holdings in its Futures service spiked from less than $200 million to over $800 million during the weekend. Interestingly, the exchange further revealed that 88% of its users are holding a long position on this asset. According to a chart shared by Bitrue, the notional value of open interest for XRP on its platform had been below $200 million for the majority of the last two weeks. However, following the court ruling on July 13, this index started rising, with the XRP Futures market recording a notable spike on July 16.\u00a0 Source: Twitter XRP Soars By 57% In Seven Days In other news, XRP remains the center of the crypto market attention, recording a 56.73% gain in the last week, according to data from CoinMarketCap. Currently, XRP, which now ranks as the fourth-biggest cryptocurrency, is tagged biggest weekly gainer. Nevertheless, it is worth noting that this token has shown little to no price movement in the last few days, with its price hovering around the $0.74 region. As of this writing, XRP is trading at $0.742 with a 1.14% gain on the last day.\u00a0 Related Reading: BTC Price Analysis: Why Is Bitcoin Down Today? However, its daily trading volume has seen a sharp decline falling by 40.29% to its current value of $2.41 billion. Other major weekly gainers include Stellar (XLM) and Synthetix (SNX), with their market prices rising by 25.75% and 30.24%, respectively.\u00a0 XRP Trading At $0.7445 On The 4-Hour Chart | Source: XRPUSD Chart On Tradingview.com Featured Image From Business Standard, Chart From Tradingview.<\/p>\n","protected":false},"author":581,"featured_media":543097,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[45923,11589,3680,4531],"class_list":["post-543076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-bitrue","tag-futures-market","tag-ripple","tag-xrp"],"acf":[],"yoast_head":"\n<title>XRP Holdings On Bitrue Exchange Surges By 300%<\/title>\n<meta name=\"description\" content=\"A Bitrue report reveals that XRP holdings in its Futures service spiked from less 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. 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